Cameco Co. (NYSE:CCJ) Given Consensus Recommendation of “Buy” by Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $66.56.

A number of research analysts have recently issued reports on CCJ shares. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Glj Research reissued a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 worth $27,000 after purchasing an additional 238 shares during the last quarter. LRI Investments LLC acquired a new stake in Cameco in the 1st quarter worth about $26,000. First Horizon Advisors Inc. grew 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 buying an additional 351 shares during the period. JFS Wealth Advisors LLC increased its stake 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 acquiring an additional 550 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 600 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Down 1.9 %

CCJ stock opened at $52.54 on Friday. The company has a market cap of $22.86 billion, a price-to-earnings ratio of 122.19 and a beta of 0.89. The company has a fifty day moving average price of $48.27 and a 200 day moving average price of $48.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. Cameco has a 12 month low of $35.43 and a 12 month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $0.24 EPS. Sell-side analysts expect that Cameco will post 0.83 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.118 dividend. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio is 20.93%.

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.