Cameco (NYSE:CCJ) Trading Up 0.9% – Here’s Why

by · The Markets Daily

Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price rose 0.9% on Tuesday . The stock traded as high as $51.83 and last traded at $51.60. Approximately 600,812 shares changed 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CCJ shares. Scotiabank reduced their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $66.56.

Check Out Our Latest Stock Report on Cameco

Cameco Stock Performance

The company has a market capitalization of $22.40 billion, a P/E ratio of 120.00 and a beta of 0.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22. The business’s fifty day simple moving average is $47.37 and its 200-day simple moving average is $48.07.

Institutional Trading of Cameco

Several hedge funds have recently modified their holdings of CCJ. Vanguard Group Inc. increased its stake in Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares during the last quarter. Capital World Investors increased its position in shares of Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after buying an additional 202,157 shares during the last quarter. William Blair Investment Management LLC lifted its position in Cameco by 6.8% in the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after buying an additional 265,196 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Cameco by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock worth $192,622,000 after buying an additional 176,183 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

(Get Free Report)

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.

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