Cameco Co. (NYSE:CCJ) Given Average Recommendation of “Buy” by Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has earned an average rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $66.56.

Several equities analysts have recently commented on CCJ shares. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Finally, Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Cameco Trading Down 1.4 %

NYSE:CCJ opened at $57.81 on Thursday. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 304.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco has a 1 year low of $35.43 and a 1 year high of $60.98. The business has a fifty day moving average of $52.73 and a 200-day moving average of $48.81.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities analysts predict that Cameco will post 0.7 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its stake 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 purchasing an additional 238 shares during the last quarter. LRI Investments LLC acquired a new position in Cameco during the first quarter worth about $26,000. 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. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Cameco during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds 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.