Cameco (NYSE:CCJ) Shares Up 0.1% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 0.1% on Wednesday . The stock traded as high as $51.80 and last traded at $51.39. Approximately 2,820,411 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,334,421 shares. The stock had previously closed at $51.33.

Wall Street Analysts Forecast Growth

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

Cameco Stock Performance

The firm has a market capitalization of $22.70 billion, a P/E ratio of 274.54 and a beta of 0.91. 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 firm has a 50-day moving average price of $54.97 and a two-hundred day moving average price of $49.26.

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). The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. On average, analysts forecast that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Pingora Partners LLC purchased a new stake in Cameco during the third quarter worth $33,000. First Horizon Advisors Inc. boosted its position in Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Cameco in the 3rd quarter valued at $38,000. Finally, JFS Wealth Advisors LLC raised its position 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 acquiring an additional 550 shares in the last quarter. 70.21% of the stock is currently owned by 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.