Cameco (NYSE:CCJ) Shares Up 1.4% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 1.4% during mid-day trading on Wednesday . The stock traded as high as $90.04 and last traded at $89.4970. Approximately 1,878,908 shares traded hands during trading, a decline of 61% from the average daily volume of 4,849,634 shares. The stock had previously closed at $88.23.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several recent analyst reports. Glj Research reaffirmed a “buy” rating and set a $99.74 target price on shares of Cameco in a research note on Wednesday. The Goldman Sachs Group upped their price target on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a report on Tuesday, November 25th. Finally, UBS Group began coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and an average price target of $117.25.

Cameco Stock Performance

The firm’s 50 day simple moving average is $89.39 and its 200-day simple moving average is $78.73. The company has a market capitalization of $39.74 billion, a price-to-earnings ratio of 106.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. Analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This represents a dividend yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is presently 19.77%.

Institutional Trading of Cameco

Institutional investors have recently bought and sold shares of the company. Financial Consulate Inc. acquired a new stake in Cameco in the third quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in Cameco during the third quarter valued at about $28,000. Armstrong Advisory Group Inc. boosted its stake in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.