Cameco (NYSE:CCJ) Trading 2.8% Higher – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 2.8% during mid-day trading on Tuesday . The company traded as high as $53.62 and last traded at $53.09. 1,540,800 shares traded hands during 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 Analysts Forecast Growth

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

Cameco Price Performance

The business has a 50 day simple moving average of $54.52 and a two-hundred day simple moving average of $49.24. The firm has a market capitalization of $23.06 billion, a P/E ratio of 278.71 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.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $646.83 million. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, sell-side analysts expect that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in shares of Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares in the last quarter. S.A. Mason LLC lifted its stake in Cameco by 6.0% during the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after acquiring an additional 206 shares during the period. Silvia Mccoll Wealth Management LLC grew its stake in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 210 shares during the period. EdgeRock Capital LLC boosted its holdings in Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in 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 valued at $27,000 after buying an additional 238 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.