Cameco (NYSE:CCJ) Trading Up 2.7% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded up 2.7% during mid-day trading on Tuesday . The company traded as high as $93.88 and last traded at $93.3550. 2,682,935 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 4,827,228 shares. The stock had previously closed at $90.90.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. The Goldman Sachs Group boosted their target price on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. UBS Group began coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Finally, National Bankshares reiterated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.25.

Cameco Stock Up 2.7%

The company’s 50-day moving average is $89.52 and its 200 day moving average is $79.37. The stock has a market capitalization of $40.65 billion, a PE ratio of 108.55 and a beta of 1.07. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the prior year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a $0.24 dividend. This represents a dividend yield of 27.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is currently 19.77%.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Consulate Inc. acquired a new position in shares of Cameco in the third quarter valued at about $25,000. Dagco Inc. purchased a new stake in Cameco in the first quarter valued at approximately $28,000. Strategic Advocates LLC acquired a new position in Cameco in the 3rd quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in Cameco during the 1st quarter worth approximately $29,000. Finally, Trust Co. of Vermont raised its position in Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after buying an additional 350 shares during the last quarter. 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.