Cameco (NYSE:CCJ) Trading 1.9% Higher – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded up 1.9% during trading on Wednesday . The stock traded as high as $49.76 and last traded at $49.51. 2,009,580 shares changed hands during trading, a decline of 58% from the average session volume of 4,831,414 shares. The stock had previously closed at $48.60.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company’s 50 day moving average price is $54.35 and its 200-day moving average price is $49.32. The stock has a market cap of $21.79 billion, a P/E ratio of 263.47 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the business posted $0.24 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts forecast that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders 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 yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 63.16%.

Hedge Funds Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Thurston Springer Miller Herd & Titak Inc. grew 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 period. Pingora Partners LLC purchased a new stake in Cameco in the third quarter worth $33,000. First Horizon Advisors Inc. raised its stake in shares of Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after buying an additional 351 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Cameco during the 3rd quarter valued at $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Cameco by 48.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.