Cameco (NYSE:CCJ) Trading Up 2.8% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 2.8% on Tuesday . The stock traded as high as $53.62 and last traded at $53.09. 1,540,800 shares were traded during mid-day trading, a decline of 57% from the average session volume of 3,554,337 shares. The stock had previously closed at $51.63.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Up 2.6 %

The stock has a 50-day moving average of $54.52 and a 200 day moving average of $49.24. The company has a market capitalization of $23.06 billion, a PE ratio of 278.71 and a beta of 0.95. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) 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 the consensus estimate of $646.83 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. Sell-side analysts anticipate that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is 63.16%.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Envestnet Asset Management Inc. grew its stake in shares of Cameco by 7.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 208,184 shares of the basic materials company’s stock worth $10,243,000 after acquiring an additional 13,588 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Cameco by 20.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,838 shares of the basic materials company’s stock worth $484,000 after purchasing an additional 1,700 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Cameco by 24.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,129 shares of the basic materials company’s stock valued at $923,000 after purchasing an additional 3,745 shares during the period. Intech Investment Management LLC lifted its stake in shares of Cameco by 145.3% during the 2nd quarter. Intech Investment Management LLC now owns 59,821 shares of the basic materials company’s stock valued at $2,943,000 after buying an additional 35,439 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after buying an additional 53,144 shares during the period. 70.21% of the stock is owned by 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.