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

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 0.7% during trading on Tuesday . The stock traded as high as $48.54 and last traded at $47.86. Approximately 2,678,147 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 4,715,854 shares. The stock had previously closed at $47.51.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One research 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 data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Trading Up 0.3 %

The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 264.32 and a beta of 0.95. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $54.20 and a 200-day moving average price of $49.33.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts expect that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a $0.118 dividend. The ex-dividend date was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio is 63.16%.

Institutional Investors Weigh In On Cameco

A number of large investors have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of Cameco by 192.7% in the fourth quarter. Allworth Financial LP now owns 3,480 shares of the basic materials company’s stock valued at $196,000 after buying an additional 2,291 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Cameco in the fourth quarter valued at $2,358,000. Principal Securities Inc. lifted its holdings in Cameco by 132.9% during the 4th quarter. Principal Securities Inc. now owns 1,742 shares of the basic materials company’s stock worth $90,000 after buying an additional 994 shares during the last quarter. Myriad Asset Management US LP purchased a new stake in Cameco during the 4th quarter worth about $1,444,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Cameco by 38.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 91,686 shares of the basic materials company’s stock worth $4,712,000 after buying an additional 25,643 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.