Cameco (NYSE:CCJ) Stock Price Up 0.9% – What’s Next?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 0.9% on Friday . The company traded as high as $53.43 and last traded at $53.37. Approximately 687,002 shares traded hands during trading, a decline of 84% from the average daily volume of 4,382,600 shares. The stock had previously closed at $52.91.

Analyst Ratings Changes

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

Cameco Price Performance

The stock has a market cap of $22.82 billion, a P/E ratio of 276.01 and a beta of 0.91. The business has a 50-day simple moving average of $55.51 and a 200 day simple moving average of $49.29. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company 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 business’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, analysts forecast that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s payout ratio is presently 57.89%.

Institutional Trading of Cameco

A number of large investors have recently bought and sold shares of CCJ. Principal Financial Group Inc. boosted its position in shares of Cameco by 1,138.1% during the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after purchasing an additional 245,831 shares in the last quarter. Dantai Capital Ltd increased its stake in Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Synovus Financial Corp raised its stake in Cameco by 12.2% during the 3rd quarter. Synovus Financial Corp now owns 128,137 shares of the basic materials company’s stock worth $6,120,000 after buying an additional 13,901 shares during the period. Tidal Investments LLC boosted its holdings in Cameco by 9.2% in the third quarter. Tidal Investments LLC now owns 25,396 shares of the basic materials company’s stock worth $1,213,000 after acquiring an additional 2,142 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Cameco in the third quarter valued at approximately $38,000. 70.21% of the stock is currently 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.