Cameco (NYSE:CCJ) Trading 5% Higher

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) rose 5% during trading on Wednesday . The stock traded as high as $51.55 and last traded at $51.46. Approximately 662,966 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,372,433 shares. The stock had previously closed at $48.99.

Analyst Ratings Changes

CCJ has been the topic of several research reports. StockNews.com lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Bank of America lifted their target price on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group lifted their target price on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $63.70.

Cameco Trading Up 8.9 %

The firm’s 50 day moving average is $51.62 and its 200 day moving average is $47.30. The company has a market cap of $23.22 billion, a PE ratio of 131.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). The business had revenue of $470.29 million during the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. On average, equities analysts anticipate that Cameco Co. will post 1.35 earnings per share for the current year.

Institutional Investors Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Cameco by 5.8% in the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after acquiring an additional 428,310 shares during the last quarter. Foster Victor Wealth Advisors LLC bought a new stake in Cameco during the 4th quarter valued at $3,956,000. Financial Insights Inc. bought a new stake in Cameco during the 3rd quarter valued at $1,942,000. Vanguard Group Inc. raised its holdings in Cameco by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 15,548,514 shares of the basic materials company’s stock valued at $616,343,000 after buying an additional 236,212 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Cameco by 6.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock valued at $581,558,000 after buying an additional 869,404 shares during 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.