Cameco (NYSE:CCJ) Trading 1.8% Higher – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shot up 1.8% during mid-day trading on Tuesday . The stock traded as high as $95.10 and last traded at $93.3950. 1,938,397 shares were traded during trading, a decline of 60% from the average session volume of 4,788,815 shares. The stock had previously closed at $91.71.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CCJ. The Goldman Sachs Group boosted their target price on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price for the company. Finally, UBS Group assumed coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 108.60 and a beta of 1.07. The firm has a 50 day simple moving average of $90.43 and a 200-day simple moving average of $81.56.

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

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Cameco by 3.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 120 shares during the period. Hager Investment Management Services LLC lifted its stake in Cameco by 0.4% during the second quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after purchasing an additional 127 shares in the last quarter. Lee Johnson Capital Management LLC boosted its position in shares of Cameco by 1.2% during the third quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock worth $903,000 after buying an additional 127 shares during the period. Delos Wealth Advisors LLC grew its stake in shares of Cameco by 60.0% in the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after buying an additional 150 shares in the last quarter. Finally, Wealth Alliance LLC grew its stake in shares of Cameco by 1.6% in the second quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock valued at $745,000 after buying an additional 154 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.