Cameco (NYSE:CCJ) Trading Up 4.1% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 4.1% during mid-day trading on Friday . The stock traded as high as $51.38 and last traded at $51.54. Approximately 1,442,103 shares were traded during trading, a decline of 56% from the average daily volume of 3,286,416 shares. The stock had previously closed at $49.51.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The firm has a market capitalization of $22.47 billion, a P/E ratio of 271.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a 50 day moving average of $54.53 and a two-hundred day moving average of $49.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data 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). The firm had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Sell-side analysts predict that Cameco Co. will post 0.47 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. Stockholders of record on Wednesday, November 27th were paid a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco’s payout ratio is presently 63.16%.

Institutional Trading of Cameco

Several hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Pingora Partners LLC acquired a new position in Cameco during the 3rd quarter valued at $33,000. First Horizon Advisors Inc. boosted its holdings in Cameco by 84.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Cameco in the 3rd quarter worth $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 267 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.