Cameco (NYSE:CCJ) Stock Price Up 1.6% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares shot up 1.6% on Wednesday . The company traded as high as $50.48 and last traded at $49.84. 793,764 shares changed hands during trading, a decline of 76% from the average session volume of 3,337,288 shares. The stock had previously closed at $49.06.

Analysts Set New Price Targets

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

Cameco Trading Up 4.3 %

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 simple moving average of $54.55 and a 200-day simple moving average of $49.24. The company has a market capitalization of $22.47 billion, a PE ratio of 271.69 and a beta of 0.95.

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

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $0.118 per share. The ex-dividend date was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is presently 63.16%.

Institutional Trading of Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. Glenmede Trust Co. NA increased 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 buying an additional 191 shares during the last quarter. S.A. Mason LLC increased its holdings in shares of Cameco by 6.0% in the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC raised its position 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 acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC increased its stake in Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after purchasing an additional 224 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Cameco by 71.5% in the 3rd 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. Hedge funds and other 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.