Cameco (NYSE:CCJ) Trading 0.3% Higher – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were up 0.3% on Thursday . The company traded as high as $56.81 and last traded at $56.49. Approximately 1,368,007 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 3,853,881 shares. The stock had previously closed at $56.32.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Stock Down 1.4 %

The company has a market cap of $24.42 billion, a PE ratio of 295.24 and a beta of 0.95. 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 business has a fifty day simple moving average of $54.65 and a two-hundred day simple moving average of $49.37.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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). The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 EPS. As a group, equities research analysts predict that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This is a positive change 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 63.16%.

Hedge Funds Weigh In On Cameco

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