Cameco (NYSE:CCJ) Trading Up 1.6% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price was up 1.6% during mid-day trading on Tuesday . The company traded as high as $53.43 and last traded at $52.89. Approximately 1,336,467 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 4,392,717 shares. The stock had previously closed at $52.08.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCJ shares. Scotiabank decreased their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research reaffirmed a “buy” rating and set a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Up 0.2 %

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock’s 50-day simple moving average is $49.10 and its 200-day simple moving average is $48.27. The firm has a market capitalization of $23.11 billion, a P/E ratio of 283.49 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. As a group, research analysts predict that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is presently 47.37%.

Institutional Trading of Cameco

Institutional investors and hedge funds have recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Cameco in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares in the last quarter. Finally, Stone House Investment Management LLC raised its position in shares of Cameco by 1,360.0% during the 3rd quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $49,000 after buying an additional 952 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

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.