Cameco Corporation [NYSE: CCJ] stock went on an upward path that rose over 3.98% on Tuesday, amounting to a one-week price decrease of less than -7.83%. The company report on July 27, 2022 that Cameco Announces Second Quarter Results, Continued Disciplined Execution of Strategy; Well-Positioned as Multi-Asset Nuclear Fuel Supplier Across the Fuel Cycle.
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Cameco (TSX: CCO; NYSE: CCJ) today reported its consolidated financial and operating results for the second quarter ended June 30, 2022 in accordance with International Financial Reporting Standards (IFRS).
“Our results reflect the very deliberate execution of our strategy of full-cycle value capture. And, we are benefiting from higher average realized prices in both our uranium sales and our fuel services sales as the market continues to transition and geopolitics continue to highlight concentration of supply concerns,” said Tim Gitzel, Cameco’s president and CEO.
Over the last 12 months, CCJ stock rose by 39.95%. The one-year Cameco Corporation stock forecast points to a potential upside of 30.68. The average equity rating for CCJ stock is currently 1.60, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $10.19 billion, with 400.00 million shares outstanding and 397.94 million shares in the current float. Compared to the average trading volume of 5.48M shares, CCJ stock reached a trading volume of 3823566 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 $33.96 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 1.60. 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 1.11, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 7.41. The Price to Book ratio for the last quarter was 2.47, with the Price to Cash per share for the same quarter was set at 2.54. Price to Free Cash Flow for CCJ in the course of the last twelve months was 32.91 with Quick ratio for the last quarter at 4.80.
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 -7.83. With this latest performance, CCJ shares gained by 2.53% in over the last four-week period, additionally plugging by 13.72% over the last 6 months – not to mention a rise of 39.95% 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 45.98, with the RSI for the last a single of trading hit 42.78, and the three-weeks RSI is set at 47.73 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 23.24, while it was recorded at 23.54 for the last single week of trading, and 24.13 for the last 200 days.
Insight into Cameco Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Cameco Corporation [CCJ] shares currently have an operating margin of -10.42 and a Gross Margin at -1.29. Cameco Corporation’s Net Margin is presently recorded at -6.95.
Return on Equity for this stock declined to -2.09, with Return on Assets sitting at -1.36.
Cameco Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 6.00.
Cameco Corporation [CCJ] Insider Position Details
There are presently around $5,579 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 14,546,068, which is approximately -21.824% of the company’s market cap and around 0.20% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 14,317,593 shares of the stock with an approximate value of $337.04 million in CCJ stocks shares; and VANGUARD GROUP INC, currently with $306.7 million in CCJ stock with ownership of nearly 1.669% of the company’s market capitalization.
Positions in Cameco Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 212 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 37,784,851 shares. Additionally, 229 investors decreased positions by around 54,883,165 shares, while 63 investors held positions by with 144,324,072 shares. The mentioned changes placed institutional holdings at 236,992,088 shares, according to the latest SEC report filing. CCJ stock had 66 new institutional investments in for a total of 9,344,255 shares, while 91 institutional investors sold positions of 16,369,459 shares during the same period.