Cameco (NYSE:CCJ) Stock Price Up 2.2% – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 2.2% during mid-day trading on Thursday . The stock traded as high as $57.34 and last traded at $57.03. 3,823,205 shares changed hands during trading, a decline of 13% from the average session volume of 4,377,435 shares. The stock had previously closed at $55.78.

Wall Street Analysts Forecast Growth

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

Cameco Stock Up 2.1 %

The business has a fifty day moving average of $43.70 and a 200 day moving average of $47.52. The firm has a market cap of $24.79 billion, a P/E ratio of 146.23 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly 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 the consensus estimate of $756.00 million. During the same period last year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. On average, equities research analysts predict that Cameco Co. will post 0.83 EPS for the current year.

Institutional Trading of Cameco

A number of institutional investors have recently modified their holdings of the stock. LRI Investments LLC acquired a new stake in shares of Cameco during the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Larson Financial Group LLC boosted its stake in Cameco by 99.3% during the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 600 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Cameco during the first quarter valued at about $87,000. Finally, BNP Paribas bought a new stake in Cameco in the 1st quarter valued at about $93,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

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.