Cameco (NYSE:CCJ) Shares Up 2.8% – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shot up 2.8% during mid-day trading on Tuesday . The company traded as high as $53.62 and last traded at $53.09. 1,540,800 shares were traded during trading, a decline of 57% from the average session volume of 3,554,337 shares. The stock had previously closed at $51.63.

Analysts Set New Price Targets

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

Cameco Price Performance

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 company’s 50-day moving average is $54.57 and its 200-day moving average is $49.32. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 299.13 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) 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 business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, research analysts expect that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 63.16%.

Institutional Trading of Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Glenmede Trust Co. NA grew its stake 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 worth $437,000 after purchasing an additional 191 shares in the last quarter. S.A. Mason LLC lifted its holdings in Cameco by 6.0% during the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after buying an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC grew its position in shares of Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC increased its holdings in shares of Cameco by 1.7% in 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 during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised 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 in the last quarter. 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.