Cameco (NYSE:CCJ) Trading Up 0.3% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) traded up 0.3% during trading on Thursday . The stock traded as high as $52.75 and last traded at $52.10. 745,510 shares changed hands during trading, a decline of 83% from the average session volume of 4,385,714 shares. The stock had previously closed at $51.93.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCJ shares. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 0.9 %

The business has a 50 day moving average price of $55.51 and a 200-day moving average price of $49.32. The firm has a market cap of $22.82 billion, a price-to-earnings ratio of 276.01 and a beta of 0.91. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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 firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. As a group, research analysts expect that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.118 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently made changes to their positions in the business. Dantai Capital Ltd boosted its stake in Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in Cameco in the third quarter valued at about $5,305,000. Telemark Asset Management LLC lifted its holdings in Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after buying an additional 100,000 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new stake in shares of Cameco in the 3rd quarter worth approximately $1,680,000. Finally, Swiss National Bank grew its stake in Cameco by 0.9% during the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock worth $62,892,000 after buying an additional 11,600 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

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.