Cameco (NYSE:CCJ) Trading 1.8% Higher – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were up 1.8% during mid-day trading on Wednesday . The company traded as high as $89.66 and last traded at $88.89. Approximately 2,866,448 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 4,896,104 shares. The stock had previously closed at $87.35.

Analysts Set New Price Targets

Several analysts recently commented on CCJ shares. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Royal Bank Of Canada decreased their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. TD Securities reaffirmed a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their target price on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.75.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The company has a 50-day moving average of $88.61 and a 200-day moving average of $76.97. The stock has a market capitalization of $38.70 billion, a price-to-earnings ratio of 102.17 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the previous year, the business posted ($0.01) EPS. The business’s quarterly revenue was down 14.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Monday, December 1st. This represents a yield of 25.0%. Cameco’s payout ratio is currently 19.77%.

Institutional Investors Weigh In On Cameco

Hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC boosted its position in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. Financial Consulate Inc. acquired a new position in Cameco in the 3rd quarter valued at $25,000. Dagco Inc. purchased a new position in shares of Cameco during the 1st quarter worth $28,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the third quarter worth $28,000. Finally, SVB Wealth LLC purchased a new stake in shares of Cameco in the first quarter valued at $29,000. 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.