Cameco (NYSE:CCJ) Stock Price Up 5.4% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 5.4% on Thursday . The company traded as high as $54.08 and last traded at $53.96. 1,927,413 shares were traded during mid-day trading, a decline of 56% from the average session volume of 4,396,245 shares. The stock had previously closed at $51.21.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCJ. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research reaffirmed a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Scotiabank decreased their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 4.6 %

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 stock has a market cap of $23.31 billion, a P/E ratio of 123.74 and a beta of 0.89. The company’s fifty day moving average price is $47.77 and its 200-day moving average price is $48.11.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. boosted its position in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the period. LRI Investments LLC bought a new stake in shares of Cameco during the first quarter valued at approximately $26,000. JFS Wealth Advisors LLC boosted its holdings in shares of Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares during the period. Larson Financial Group LLC grew its stake in Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 642 shares during the period. 70.21% of the stock is 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.