Cameco Corporation [CCJ] is 1.19% higher this YTD. Is it still time to buy?

Cameco Corporation [NYSE: CCJ] jumped around 0.27 points on Tuesday, while shares priced at $22.94 at the close of the session, up 1.19%. The company report on November 9, 2022 that Cameco Produces First Packaged Pounds Following McArthur River/Key Lake Restart.

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Cameco (TSX: CCO; NYSE: CCJ) announced that the first pounds of uranium ore from the McArthur River mine have now been milled and packaged at the Key Lake mill, marking the achievement of initial production as these facilities transition back into normal operations.

“McArthur River and Key Lake are among the best and most prolific uranium assets on the planet, and after building homes for these pounds in our long-term contract portfolio, we are delighted to have them back in production,” said Cameco president and CEO Tim Gitzel. “Market conditions have continued to strengthen since we announced their planned restart, with growing geopolitical uncertainty adding to energy security concerns worldwide, and the ongoing global emphasis on decarbonization and electrification only gaining momentum.”.

Cameco Corporation stock is now 1.19% up from its year-to-date (YTD) trading value. CCJ Stock saw the intraday high of $23.26 and lowest of $22.57 per share. The company’s 52-week high price is 32.49, which means current price is +1.64% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 6.13M shares, CCJ reached a trading volume of 5738607 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $33.32 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 1.50. 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 0.66, with the Price to Sales ratio for CCJ stock in the period of the last 12 months amounting to 7.40. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 2.30. Price to Free Cash Flow for CCJ in the course of the last twelve months was 96.05 with Quick ratio for the last quarter at 4.00.

How has CCJ stock performed recently?

Cameco Corporation [CCJ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.32. With this latest performance, CCJ shares dropped by -3.49% in over the last four-week period, additionally plugging by 9.13% over the last 6 months – not to mention a rise of 5.18% 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 53.32, with the RSI for the last a single of trading hit 60.15, and the three-weeks RSI is set at 50.05 for Cameco Corporation [CCJ]. The present Moving Average for the last 50 days of trading for this stock 23.17, while it was recorded at 22.70 for the last single week of trading, and 24.96 for the last 200 days.

Cameco Corporation [CCJ]: Deeper insight into the 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 4.00 and a Current Ratio set at 5.10.

Insider trade positions for Cameco Corporation [CCJ]

There are presently around $5,367 million, or 70.10% of CCJ stock, in the hands of institutional investors. The top three institutional holders of CCJ stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 14,570,731, which is approximately 1.768% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 13,470,408 shares of the stock with an approximate value of $309.01 million in CCJ stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $271.31 million in CCJ stock with ownership of nearly -18.694% of the company’s market capitalization.

240 institutional holders increased their position in Cameco Corporation [NYSE:CCJ] by around 25,637,426 shares. Additionally, 196 investors decreased positions by around 27,772,697 shares, while 76 investors held positions by with 180,560,189 shares. The mentioned changes placed institutional holdings at 233,970,312 shares, according to the latest SEC report filing. CCJ stock had 103 new institutional investments in for a total of 7,953,131 shares, while 49 institutional investors sold positions of 3,258,462 shares during the same period.


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