Shares of Cameco Corp (NYSE:CCJ) (TSE:CCO) were up 8.6% on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $12.22 and last traded at $12.10. Approximately 5,464,502 shares traded hands during trading, an increase of 147% from the average daily volume of 2,207,892 shares. The stock had previously closed at $11.14.
The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. Cameco had a positive return on equity of 3.96% and a negative net margin of 2.65%. The firm had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $576.92 million. During the same period in the prior year, the business posted ($0.13) earnings per share. The business’s revenue was up .4% compared to the same quarter last year.
A number of analysts have weighed in on CCJ shares. Raymond James upgraded Cameco from a “market perform” rating to an “outperform” rating in a research report on Thursday, September 27th. BMO Capital Markets upgraded Cameco from a “market perform” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Thursday, September 27th. Scotiabank upgraded Cameco from an “underperform” rating to a “sector perform” rating in a research report on Friday, September 28th. Zacks Investment Research cut Cameco from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Finally, TheStreet cut Cameco from a “c” rating to a “d+” rating in a research report on Monday, July 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.67.
Large investors have recently made changes to their positions in the business. Pitcairn Co. boosted its stake in Cameco by 15.8% in the third quarter. Pitcairn Co. now owns 47,010 shares of the basic materials company’s stock worth $536,000 after purchasing an additional 6,410 shares in the last quarter. Ayalon Holdings Ltd. acquired a new position in Cameco in the third quarter worth $149,000. Capital Investment Advisory Services LLC boosted its stake in Cameco by 69.0% in the third quarter. Capital Investment Advisory Services LLC now owns 54,545 shares of the basic materials company’s stock worth $622,000 after purchasing an additional 22,275 shares in the last quarter. CWM LLC boosted its stake in Cameco by 31.9% in the third quarter. CWM LLC now owns 311,846 shares of the basic materials company’s stock worth $3,555,000 after purchasing an additional 75,341 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Cameco by 23.4% in the third quarter. Russell Investments Group Ltd. now owns 4,403,105 shares of the basic materials company’s stock worth $50,161,000 after purchasing an additional 835,328 shares in the last quarter. Hedge funds and other institutional investors own 50.95% of the company’s stock.
The company has a debt-to-equity ratio of 0.31, a current ratio of 6.16 and a quick ratio of 3.58. The company has a market capitalization of $4.41 billion, a P/E ratio of 100.83 and a beta of 1.02.
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About Cameco (NYSE:CCJ)
Cameco Corporation produces and sells uranium worldwide. The company operates through three segments: Uranium, Fuel Services, and NUKEM. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrates. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; the Inkai property situated in Kazakhstan; the Smith Ranch-Highland property located in Wyoming, the United States; and the Crow Butte property situated in Nebraska, the United States.
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