Cameco (NYSE:CCJ) Trading 3.2% Higher – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded up 3.2% during trading on Monday . The stock traded as high as $45.88 and last traded at $45.96. 703,080 shares traded hands during trading, a decline of 83% from the average session volume of 4,083,351 shares. The stock had previously closed at $44.53.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCJ. Stifel Canada raised Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Glj Research upped their price target on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Down 2.8 %

The stock has a market cap of $19.36 billion, a P/E ratio of 158.82 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $46.88 and its 200-day moving average is $50.28.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. As a group, research analysts anticipate that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in Cameco during the fourth quarter worth about $25,000. Hurley Capital LLC acquired a new position in shares of Cameco in the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Cameco in the 4th quarter worth approximately $28,000. Pingora Partners LLC acquired a new stake in Cameco during the third quarter valued at approximately $33,000. Finally, Whipplewood Advisors LLC bought a new stake in Cameco during the fourth quarter worth approximately $33,000. 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.