Cameco (NYSE:CCJ) Shares Up 5.6% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 5.6% on Monday . The stock traded as high as $56.16 and last traded at $56.10. Approximately 1,635,815 shares were traded during trading, a decline of 41% from the average daily volume of 2,754,572 shares. The stock had previously closed at $53.12.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One equities research 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 company. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 3.7 %

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 50-day moving average price of $54.96 and a 200 day moving average price of $49.23. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of 290.07 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. Cameco’s revenue was up 25.4% on a year-over-year basis. As a group, research analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors 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 currently 57.89%.

Hedge Funds Weigh In On Cameco

Institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings in 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 in the last quarter. Pingora Partners LLC bought a new position in Cameco during the third quarter valued at about $33,000. First Horizon Advisors Inc. raised 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 valued at $37,000 after buying an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Cameco during the third quarter valued at about $38,000. Finally, JFS Wealth Advisors LLC raised its holdings in Cameco by 130.6% during the third 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 in the last quarter. 70.21% of the stock is currently owned by institutional investors.

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.