Cameco Co. (NYSE:CCJ) Announces Annual Dividend of $0.12

Cameco Co. (NYSE:CCJ) (TSE:CCO) announced an annual dividend on Thursday, November 7th,Zacks Dividends reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.118 per share by the basic materials company on Tuesday, December 31st. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09.

Cameco has raised its dividend by an average of 14.5% per year over the last three years. Cameco has a payout ratio of 7.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Cameco to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 5.6%.

Cameco Price Performance

Shares of NYSE CCJ traded down $0.88 during mid-day trading on Friday, reaching $52.70. The company’s stock had a trading volume of 672,749 shares, compared to its average volume of 4,397,010. 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 50-day moving average of $48.03 and a two-hundred day moving average of $48.15. The stock has a market capitalization of $22.93 billion, a P/E ratio of 124.63 and a beta of 0.89. Cameco has a 1-year low of $35.43 and a 1-year high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts anticipate that Cameco will post 0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.