Cameco (NYSE:CCJ) Trading Up 1.7% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 1.7% during mid-day trading on Thursday . The company traded as high as $54.09 and last traded at $53.86. Approximately 1,106,145 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 4,402,798 shares. The stock had previously closed at $52.98.

Wall Street Analysts Forecast Growth

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

Cameco Stock Up 0.9 %

The company has a market cap of $23.31 billion, a P/E ratio of 281.95 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $49.73 and a 200 day moving average price of $48.33.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.24 EPS. Equities research analysts forecast that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.118 dividend. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

Institutional Investors Weigh In On Cameco

Institutional investors have recently bought and sold shares of the company. LRI Investments LLC acquired a new position in Cameco during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares during the period. Pingora Partners LLC bought a new position in Cameco during the third quarter worth about $33,000. First Horizon Advisors Inc. raised its position in shares of Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake 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 buying an additional 550 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.