Cameco (NYSE:CCJ) Trading Up 1.7% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 1.7% during trading on Thursday . The stock traded as high as $54.09 and last traded at $53.86. 1,106,145 shares were traded during mid-day trading, a decline of 75% from the average session volume of 4,402,798 shares. The stock had previously closed at $52.98.

Analyst Ratings Changes

CCJ has been the topic of several recent research reports. Glj Research reaffirmed a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Scotiabank reduced their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The stock has a fifty day simple moving average of $49.10 and a 200-day simple moving average of $48.27. The company has a market capitalization of $23.21 billion, a PE ratio of 283.49 and a beta of 0.89. 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 posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. Equities analysts anticipate that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA grew its holdings in Cameco by 2.1% in the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares during the last quarter. S.A. Mason LLC grew its position in shares of Cameco by 6.0% in the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its stake in shares of Cameco by 3.9% during the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 210 shares in the last quarter. EdgeRock Capital LLC raised its position in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after buying an additional 234 shares in the last quarter. 70.21% of the stock is 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.