Cameco (NYSE:CCJ) Shares Up 0.1% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price rose 0.1% during trading on Wednesday . The company traded as high as $51.80 and last traded at $51.39. Approximately 2,820,411 shares traded hands during trading, a decline of 35% from the average daily volume of 4,334,421 shares. The stock had previously closed at $51.33.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

The company has a fifty day moving average of $55.06 and a two-hundred day moving average of $49.23. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 270.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities research analysts predict that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio is currently 57.89%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in shares of Cameco during the second quarter valued at $73,125,000. CIBC Asset Management Inc lifted its position in shares of Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the period. M&G PLC acquired a new stake in Cameco in the third quarter worth $66,227,000. Segra Capital Management LLC acquired a new position in shares of Cameco during the third quarter valued at about $53,013,000. Finally, Fred Alger Management LLC boosted its position in shares of Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after purchasing an additional 839,077 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.