Cameco (NYSE:CCJ) Trading 4.8% Higher – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was up 4.8% during mid-day trading on Tuesday . The company traded as high as $87.67 and last traded at $87.3560. Approximately 4,126,715 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 4,897,969 shares. The stock had previously closed at $83.34.

Analyst Ratings Changes

A number of research firms recently weighed in on CCJ. Raymond James Financial lifted their price objective on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. The Goldman Sachs Group raised their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Royal Bank Of Canada dropped their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Price Performance

The company has a market capitalization of $38.70 billion, a P/E ratio of 102.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm’s 50-day moving average is $88.75 and its 200-day moving average is $77.05.

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 (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. Cameco has set its FY 2025 guidance at EPS. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Cameco by 3.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 120 shares during the period. Hager Investment Management Services LLC boosted its position in shares of Cameco by 0.4% in 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 purchasing an additional 127 shares in the last quarter. Lee Johnson Capital Management LLC grew its stake in shares of Cameco by 1.2% during the third quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock worth $903,000 after acquiring an additional 127 shares during the last quarter. Delos Wealth Advisors LLC increased its stake in Cameco by 60.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 150 shares in the last quarter. Finally, Wealth Alliance LLC increased its position in shares of Cameco by 1.6% in the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock valued at $745,000 after acquiring an additional 154 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.