Cameco (NYSE:CCJ) Stock Price Up 1.8% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price was up 1.8% during trading on Wednesday . The stock traded as high as $89.66 and last traded at $88.89. Approximately 2,866,448 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 4,896,104 shares. The stock had previously closed at $87.35.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group started coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. President Capital raised Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. TD Securities restated a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Raymond James Financial boosted their price target on Cameco to $150.00 in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.75.

Cameco Trading Down 0.1%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm has a market cap of $38.64 billion, a P/E ratio of 102.00 and a beta of 0.98. The business’s fifty day moving average is $88.87 and its 200-day moving average is $77.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. Analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, December 1st. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a yield of 25.0%. Cameco’s dividend payout ratio is presently 19.77%.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in CCJ. MetLife Investment Management LLC purchased a new position in Cameco during the 1st quarter worth $2,131,000. TD Asset Management Inc increased its holdings in Cameco by 3.7% in the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock worth $158,141,000 after acquiring an additional 77,081 shares during the last quarter. Nwam LLC raised its position in shares of Cameco by 11.7% in the second quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after purchasing an additional 8,519 shares during the period. Northwest & Ethical Investments L.P. grew its position in shares of Cameco by 50.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after purchasing an additional 14,154 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its position in shares of Cameco by 74.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after acquiring an additional 20,947 shares during the period. Institutional investors 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.