Cameco (NYSE:CCJ) Trading 5.6% Higher – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price rose 5.6% on Monday . The stock traded as high as $56.16 and last traded at $56.10. Approximately 1,635,815 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,754,572 shares. The stock had previously closed at $53.12.

Analyst Upgrades and Downgrades

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

Cameco Stock Down 0.4 %

The stock has a 50-day simple moving average of $54.89 and a two-hundred day simple moving average of $49.25. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $22.36 billion, a PE ratio of 270.38 and a beta of 0.95.

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 return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Analysts expect that Cameco Co. will post 0.51 earnings per share for the current 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. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio is 57.89%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. bought a new position in shares of Cameco in the 4th quarter worth approximately $206,000. Capital Market Strategies LLC raised its holdings in Cameco by 5.3% in the fourth quarter. Capital Market Strategies LLC now owns 19,383 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 980 shares in the last quarter. Confluence Investment Management LLC lifted its position in Cameco by 3.2% during the fourth quarter. Confluence Investment Management LLC now owns 22,815 shares of the basic materials company’s stock valued at $1,172,000 after buying an additional 697 shares during the period. Principal Financial Group Inc. grew its stake in shares of Cameco by 1,138.1% in the third quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock worth $12,774,000 after acquiring an additional 245,831 shares during the last quarter. Finally, Dantai Capital Ltd increased its stake in Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after purchasing an additional 17,560 shares in the last quarter. 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.