Cameco Corporation [CCJ] gain 18.07% so far this year. What now?


Cameco Corporation [NYSE: CCJ] stock went on an upward path that rose over 1.18% on Tuesday, amounting to a one-week price decrease of less than -2.31%. The company report on May 2, 2022 that Baselode Extends ACKIO High-Grade Uranium Zone 100 m to the Southeast with Strongest Intersections of Elevated Radioactivity.

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Drill holes AK22-023 and AK22-032 returned 3 of the 4 strongest elevated radioactivity intersections on ACKIO.

Over the last 12 months, CCJ stock rose by 41.64%. The one-year Cameco Corporation stock forecast points to a potential upside of 2.83. The average equity rating for CCJ stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.48 billion, with 398.02 million shares outstanding and 397.89 million shares in the current float. Compared to the average trading volume of 8.70M shares, CCJ stock reached a trading volume of 6319368 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Cameco Corporation [CCJ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCJ shares is $26.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCJ stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Cameco Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for Cameco Corporation stock. Previously, the target price had yet another raise to $32, while BofA Securities analysts kept a Buy rating on CCJ stock.

The Average True Range (ATR) for Cameco Corporation is set at 1.48, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 9.10. The Price to Book ratio for the last quarter was 2.71, with the Price to Cash per share for the same quarter was set at 2.56. Price to Free Cash Flow for CCJ in the course of the last twelve months was 37.32 with Quick ratio for the last quarter at 4.20.

CCJ Stock Performance Analysis:

Cameco Corporation [CCJ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.31. With this latest performance, CCJ shares dropped by -11.30% in over the last four-week period, additionally plugging by 2.43% over the last 6 months – not to mention a rise of 41.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCJ stock in for the last two-week period is set at 38.58, with the RSI for the last a single of trading hit 31.75, and the three-weeks RSI is set at 43.66 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 27.17, while it was recorded at 25.93 for the last single week of trading, and 23.14 for the last 200 days.

Insight into Cameco Corporation Fundamentals:

Cameco Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 5.20.

Cameco Corporation [CCJ] Insider Position Details

There are presently around $6,017 million, or 70.10% of CCJ stock, in the hands of institutional investors. The top three institutional holders of CCJ stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 17,326,319, which is approximately -5.167% of the company’s market cap and around 0.20% of the total institutional ownership; WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC, holding 13,415,001 shares of the stock with an approximate value of $341.41 million in CCJ stocks shares; and VANGUARD GROUP INC, currently with $320.31 million in CCJ stock with ownership of nearly 2.054% of the company’s market capitalization.

212 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 33,438,599 shares. Additionally, 168 investors decreased positions by around 30,232,563 shares, while 55 investors held positions by with 172,746,858 shares. The mentioned changes placed institutional holdings at 236,418,020 shares, according to the latest SEC report filing. CCJ stock had 94 new institutional investments in for a total of 11,456,227 shares, while 33 institutional investors sold positions of 4,127,120 shares during the same period.