Cameco (NYSE:CCJ) Trading Up 3.2% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded up 3.2% during trading on Thursday . The company traded as high as $88.45 and last traded at $87.5840. 2,735,420 shares changed hands during trading, a decline of 43% from the average session volume of 4,800,327 shares. The stock had previously closed at $84.85.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group boosted their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Cameco in a research note on Monday, December 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Raymond James Financial upped their price objective on Cameco to $150.00 in a report on Wednesday, October 29th. Finally, National Bankshares reiterated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.25.

Cameco Stock Performance

The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $90.35 and a 200 day moving average price of $80.77. The stock has a market cap of $38.13 billion, a P/E ratio of 101.84 and a beta of 1.07.

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

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 19.77%.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently made changes to their positions in the company. Financial Consulate Inc. bought a new position in Cameco during the 3rd quarter worth about $25,000. Strategic Advocates LLC purchased a new position in Cameco during the 3rd quarter worth $28,000. SVB Wealth LLC acquired a new position in shares of Cameco during the first quarter valued at about $29,000. Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% in the second 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. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 182 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.