Cameco (NYSE:CCJ) Trading Up 0.9% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) was up 0.9% during trading on Tuesday . The company traded as high as $51.83 and last traded at $51.60. Approximately 600,812 shares traded hands during trading, a decline of 86% from the average daily volume of 4,389,895 shares. The stock had previously closed at $51.15.

Analyst Ratings Changes

Several research firms have weighed in on CCJ. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Scotiabank cut their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Up 4.6 %

The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 123.74 and a beta of 0.89. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $47.77 and a two-hundred day moving average of $48.11.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Swiss National Bank grew its holdings in Cameco by 0.9% in the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after buying an additional 11,600 shares during the last quarter. S&CO Inc. grew its stake in shares of Cameco by 2.3% in the third quarter. S&CO Inc. now owns 562,571 shares of the basic materials company’s stock worth $26,868,000 after acquiring an additional 12,805 shares during the last quarter. Ipswich Investment Management Co. Inc. bought a new position in Cameco during the third quarter worth $963,000. Empowered Funds LLC acquired a new position in Cameco during the 3rd quarter valued at $768,000. Finally, CIBC Asset Management Inc boosted its holdings in Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.