Cameco (NYSE:CCJ) Shares Up 5.2% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price was up 5.2% on Thursday . The stock traded as high as $94.53 and last traded at $94.07. Approximately 4,123,080 shares were traded during trading, a decline of 15% from the average daily volume of 4,846,536 shares. The stock had previously closed at $89.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CCJ shares. Glj Research restated a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research note on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research report on Tuesday, November 25th. UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Finally, National Bankshares restated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. One equities 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 stock. According to MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Cameco Price 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 firm’s fifty day moving average price is $89.10 and its 200 day moving average price is $78.34. The stock has a market cap of $40.96 billion, a PE ratio of 109.38 and a beta of 1.07.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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). The company 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%. The business’s revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal 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 is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date is Monday, December 1st. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

Institutional Trading of Cameco

A number of large investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in Cameco during the first quarter worth approximately $2,131,000. TD Asset Management Inc increased its position in shares of Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock valued at $158,141,000 after purchasing an additional 77,081 shares during the last quarter. Nwam LLC raised its holdings in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after buying an additional 8,519 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after buying an additional 14,154 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its position in 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 worth $2,017,000 after buying an additional 20,947 shares during the last quarter. 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.