Cameco (NYSE:CCJ) Shares Up 5.1%

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 5.1% during mid-day trading on Wednesday . The company traded as high as $40.52 and last traded at $40.12. Approximately 3,006,978 shares were traded during trading, a decline of 32% from the average daily volume of 4,432,276 shares. The stock had previously closed at $38.18.

Analysts Set New Price Targets

A number of research firms have issued reports on CCJ. The Goldman Sachs Group boosted their target price on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Bank of America lifted their price target on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and an average target price of $63.70.

Cameco Stock Performance

The firm has a market capitalization of $16.77 billion, a P/E ratio of 102.87 and a beta of 0.92. The stock has a fifty day moving average of $49.64 and a 200-day moving average of $47.48. The company has a quick ratio of 0.69, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same quarter in the previous year, the company posted ($0.01) EPS. The business’s revenue for the quarter was up 24.1% compared to the same quarter last year. On average, research analysts anticipate that Cameco Co. will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Murphy Pohlad Asset Management LLC raised its position in shares of Cameco by 0.3% during the first quarter. Murphy Pohlad Asset Management LLC now owns 75,720 shares of the basic materials company’s stock worth $3,280,000 after purchasing an additional 200 shares during the period. Lindbrook Capital LLC raised its holdings in Cameco by 26.0% during the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after buying an additional 221 shares during the last quarter. LRI Investments LLC lifted its stake in shares of Cameco by 39.0% in the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after buying an additional 234 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Cameco by 2.8% during the fourth quarter. Meitav Investment House Ltd. now owns 8,897 shares of the basic materials company’s stock valued at $383,000 after buying an additional 240 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Cameco by 12.3% during the first quarter. Fifth Third Bancorp now owns 2,290 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 250 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.