Cameco (NYSE:CCJ) Reaches New 12-Month High – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) reached a new 52-week high on Wednesday . The stock traded as high as $129.79 and last traded at $127.9430, with a volume of 1602626 shares traded. The stock had previously closed at $125.97.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CCJ shares. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. National Bankshares reiterated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. UBS Group assumed coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Glj Research restated a “buy” rating and issued a $99.74 target price on shares of Cameco in a research report on Wednesday, December 3rd. Finally, Sanford C. Bernstein increased their price target on shares of Cameco from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $121.68.

Cameco Stock Performance

The business has a 50 day moving average price of $97.91 and a 200 day moving average price of $88.18. The stock has a market capitalization of $56.34 billion, a PE ratio of 150.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. As a group, equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were given a $0.24 dividend. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend was Monday, December 1st. This represents a yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

Institutional Trading of Cameco

Several large investors have recently modified their holdings of the company. Legacy Bridge LLC raised its position in Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC boosted its position in shares of Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after buying an additional 112 shares during the period. International Assets Investment Management LLC grew its stake in shares of Cameco by 3.1% in the third quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after buying an additional 120 shares in the last quarter. Eagle Global Advisors LLC raised its holdings in shares of Cameco by 2.1% in the 4th quarter. Eagle Global Advisors LLC now owns 6,023 shares of the basic materials company’s stock valued at $551,000 after buying an additional 123 shares during the period. Finally, Hager Investment Management Services LLC lifted its stake in Cameco by 0.4% during the 2nd quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.