Cameco (NYSE:CCJ) Stock Price Up 0.3% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price traded up 0.3% during mid-day trading on Thursday . The company traded as high as $52.75 and last traded at $52.10. 745,510 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 4,385,714 shares. The stock had previously closed at $51.93.

Analyst Ratings Changes

A number of analysts have recently weighed in on CCJ shares. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cameco currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

The company has a 50-day simple moving average of $55.44 and a two-hundred day simple moving average of $49.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market capitalization of $22.98 billion, a P/E ratio of 277.86 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the company posted $0.24 EPS. Cameco’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities analysts forecast that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.118 per share. This represents a dividend yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 57.89%.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently made changes to their positions in CCJ. Glenmede Trust Co. NA grew its position in Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after buying an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its position in shares of Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC increased its holdings in Cameco by 1.7% in the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after buying an additional 224 shares in the last quarter. Finally, LRI Investments LLC raised its position in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares during the last quarter. Hedge funds and other institutional investors 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.