Cameco Co. (NYSE:CCJ) Raises Dividend to $0.12 Per Share

Cameco Co. (NYSE:CCJ) (TSE:CCO) declared an annual dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.118 per share by the basic materials company on Tuesday, December 31st. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09.

Cameco has increased its dividend by an average of 14.5% annually over the last three years. Cameco has a payout ratio of 7.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cameco to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.09 annual dividend with an expected future payout ratio of 5.6%.

Cameco Stock Down 1.6 %

CCJ traded down $0.88 during trading on Friday, reaching $52.70. 672,749 shares of the stock traded hands, compared to its average volume of 4,397,010. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $58.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 124.63 and a beta of 0.89. The stock’s 50-day simple moving average is $48.03 and its two-hundred day simple moving average is $48.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. As a group, equities research analysts expect that Cameco will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCJ. Glj Research reiterated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank decreased their price target on shares of 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 upgraded 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 research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $66.56.

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.