Cameco (NYSE:CCJ) Trading Up 1.6% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $50.48 and last traded at $49.84. 793,764 shares traded hands during trading, a decline of 76% from the average session volume of 3,337,288 shares. The stock had previously closed at $49.06.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Cameco has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Up 4.3 %

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 company’s fifty day moving average price is $54.55 and its two-hundred day moving average price is $49.24. The firm has a market cap of $22.47 billion, a PE ratio of 271.69 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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). 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 analyst estimates of $646.83 million. During the same period in the prior year, the company earned $0.24 EPS. The company’s revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors 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 (DPR) is 63.16%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dantai Capital Ltd grew its holdings in shares of Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after acquiring an additional 17,560 shares during the period. iA Global Asset Management Inc. purchased a new stake in shares of Cameco in the 3rd quarter worth about $5,305,000. Telemark Asset Management LLC grew its stake in Cameco by 8.3% in the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after acquiring an additional 100,000 shares during the last quarter. Principal Financial Group Inc. raised its position in Cameco by 1,138.1% during 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, Moody Lynn & Lieberson LLC purchased a new stake in shares of Cameco in the third quarter valued at about $1,680,000. 70.21% of the stock is 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.