Cameco (NYSE:CCJ) Shares Up 3.9% – Here’s What Happened

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 3.9% during mid-day trading on Wednesday . The company traded as high as $56.25 and last traded at $55.64. 3,003,437 shares traded hands during trading, a decline of 19% from the average session volume of 3,722,396 shares. The stock had previously closed at $53.56.

Analysts Set New Price Targets

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

Cameco Stock Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $54.65 and its two-hundred day moving average price is $49.37. The firm has a market capitalization of $24.42 billion, a PE ratio of 295.24 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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). The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts expect that Cameco Co. will post 0.47 earnings per share for the current 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 paid a $0.118 dividend. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s payout ratio is presently 63.16%.

Institutional Trading of Cameco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA grew its stake in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares during the period. S.A. Mason LLC lifted its holdings in shares of 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 in the last quarter. Silvia Mccoll Wealth Management LLC lifted its holdings in shares of Cameco by 3.9% during the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC lifted its holdings in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 224 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.