Cameco (NYSE:CCJ) Shares Up 0.7% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) traded up 0.7% during trading on Tuesday . The stock traded as high as $56.52 and last traded at $56.30. 1,363,765 shares were traded during trading, a decline of 69% from the average session volume of 4,440,379 shares. The stock had previously closed at $55.90.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CCJ shares. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a market cap of $24.87 billion, a PE ratio of 296.33 and a beta of 0.89. The business has a 50 day moving average price of $50.11 and a two-hundred day moving average price of $48.41.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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). The business had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Research analysts expect that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is 47.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC bought a new position in Cameco during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Pingora Partners LLC bought a new position in shares of Cameco in the third quarter worth $33,000. First Horizon Advisors Inc. raised its stake in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.