Cameco (NYSE:CCJ) Trading 4.5% Higher – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) rose 4.5% on Friday . The company traded as high as $56.47 and last traded at $55.50. Approximately 5,426,098 shares were traded during trading, an increase of 23% from the average daily volume of 4,418,524 shares. The stock had previously closed at $53.11.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Glj Research reaffirmed a “buy” rating and set a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank decreased their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

The company has a market capitalization of $23.29 billion, a price-to-earnings ratio of 290.28 and a beta of 0.89. The company has a 50 day moving average price of $49.40 and a 200 day moving average price of $48.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS 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 analyst estimates of $646.83 million. During the same period last year, the business posted $0.24 EPS. The company’s revenue was up 25.4% on a year-over-year basis. Equities research analysts predict that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio is presently 47.37%.

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC bought a new stake in Cameco during the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares during the last quarter. Finally, Stone House Investment Management LLC lifted its stake in Cameco by 1,360.0% during the 3rd quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 952 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.