Cameco (NYSE:CCJ) Trading 4.3% Higher – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price traded up 4.3% on Monday . The stock traded as high as $52.59 and last traded at $51.62. 6,233,489 shares were traded during mid-day trading, an increase of 133% from the average session volume of 2,670,748 shares. The stock had previously closed at $49.51.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 3.8 %

The firm has a 50 day moving average of $54.52 and a 200-day moving average of $49.24. 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 market capitalization of $23.33 billion, a P/E ratio of 282.10 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million during 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 firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, equities research analysts predict that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s payout ratio is currently 63.16%.

Hedge Funds Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of CCJ. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Pingora Partners LLC bought a new position in shares of Cameco in the third quarter worth about $33,000. First Horizon Advisors Inc. boosted its stake in shares of Cameco by 84.2% in 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Cameco during the 3rd quarter valued at approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 267 shares in the last quarter. 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.