Cameco (NYSE:CCJ) Trading Up 0.7% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was up 0.7% during trading on Tuesday . The stock traded as high as $48.54 and last traded at $47.86. Approximately 2,678,147 shares traded hands during trading, a decline of 43% from the average daily volume of 4,715,854 shares. The stock had previously closed at $47.51.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

The business has a fifty day simple moving average of $54.20 and a two-hundred day simple moving average of $49.33. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $21.86 billion, a P/E ratio of 264.32 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is 63.16%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Dantai Capital Ltd grew its holdings in Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC purchased a new position in Cameco during the 4th quarter valued at approximately $895,000. Whalen Wealth Management Inc. purchased a new position in shares of Cameco in the 4th quarter worth approximately $445,000. iA Global Asset Management Inc. purchased a new position in shares of Cameco in the 3rd quarter worth approximately $5,305,000. Finally, Telemark Asset Management LLC boosted its holdings in shares of Cameco by 8.3% in the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after purchasing an additional 100,000 shares during the period. Institutional investors 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.