Cameco (NYSE:CCJ) Shares Up 0.6% – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price shot up 0.6% during trading on Friday . The company traded as high as $53.02 and last traded at $52.47. 1,092,546 shares changed hands during trading, a decline of 53% from the average session volume of 2,338,018 shares. The stock had previously closed at $52.16.

Analyst Upgrades and Downgrades

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

Cameco Trading Up 1.8 %

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 fifty day simple moving average of $54.96 and a two-hundred day simple moving average of $49.27. The firm has a market capitalization of $23.12 billion, a P/E ratio of 279.59 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share 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 firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC increased its holdings in Cameco by 3.2% during the 4th quarter. Confluence Investment Management LLC now owns 22,815 shares of the basic materials company’s stock worth $1,172,000 after acquiring an additional 697 shares during the period. Principal Financial Group Inc. increased its holdings 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 purchasing an additional 245,831 shares during the period. Dantai Capital Ltd raised its position in shares of Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 17,560 shares in the last quarter. Synovus Financial Corp boosted its stake in Cameco by 12.2% during the third quarter. Synovus Financial Corp now owns 128,137 shares of the basic materials company’s stock valued at $6,120,000 after buying an additional 13,901 shares during the period. Finally, Tidal Investments LLC grew its position in Cameco by 9.2% during the third quarter. Tidal Investments LLC now owns 25,396 shares of the basic materials company’s stock worth $1,213,000 after buying an additional 2,142 shares in the last quarter. 70.21% of the stock is 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.