Cameco (NYSE:CCJ) Stock Price Up 2.3% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was up 2.3% on Friday . The company traded as high as $92.53 and last traded at $92.3010. Approximately 6,562,386 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 4,904,793 shares. The stock had previously closed at $90.24.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCJ. TD Securities reiterated a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their target price on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. CLSA began coverage on shares of Cameco in a report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price target for the company. Finally, Wall Street Zen upgraded shares of Cameco from a “hold” rating to a “buy” rating in a report on Sunday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $102.61.

Cameco Stock Up 2.3%

The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $86.44 and a two-hundred day simple moving average of $72.82. The stock has a market capitalization of $40.19 billion, a P/E ratio of 106.09 and a beta of 0.98.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a yield of 25.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 13.79%.

Institutional Trading of Cameco

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Cameco during the 2nd quarter worth approximately $341,736,000. Alliancebernstein L.P. grew its holdings in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after buying an additional 2,071,373 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after buying an additional 1,387,797 shares in the last quarter. Finally, Temasek Holdings Private Ltd bought a new position in shares of Cameco in the first quarter valued at about $55,513,000. Institutional investors and hedge funds 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.