Cameco (NYSE:CCJ) Trading 0.4% Higher – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 0.4% during mid-day trading on Tuesday . The company traded as high as $51.80 and last traded at $51.56. Approximately 1,188,683 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,327,700 shares. The stock had previously closed at $51.33.

Analysts Set New Price Targets

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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market capitalization of $22.37 billion, a P/E ratio of 270.49 and a beta of 0.91. The firm’s 50-day moving average is $55.01 and its 200-day moving average is $49.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS 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 company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Analysts predict that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.118 dividend. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio is presently 57.89%.

Institutional Trading of Cameco

Several institutional investors have recently made changes to their positions in CCJ. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 valued at $27,000 after acquiring an additional 238 shares during the last quarter. Pingora Partners LLC purchased a new stake in Cameco during the third quarter valued at $33,000. First Horizon Advisors Inc. lifted its position in Cameco by 84.2% during the third 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 last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Cameco in the 3rd quarter worth $38,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after buying an additional 550 shares during the last quarter. Hedge funds and other 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.