Cameco (NYSE:CCJ) Stock Price Up 0.7% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded up 0.7% during mid-day trading on Tuesday . The stock traded as high as $48.54 and last traded at $47.86. 2,678,147 shares changed hands during trading, a decline of 43% from the average session volume of 4,715,854 shares. The stock had previously closed at $47.51.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

The company has a market cap of $21.15 billion, a price-to-earnings ratio of 255.77 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 stock has a 50 day moving average price of $54.53 and a two-hundred day moving average price of $49.35.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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). The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Analysts predict that Cameco Co. will post 0.47 EPS 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 issued a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is 63.16%.

Hedge Funds Weigh In On Cameco

A number of large investors have recently added to or reduced their stakes in CCJ. CIBC Asset Management Inc increased its holdings in Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares in the last quarter. M&G PLC bought a new position in shares of Cameco in the 3rd quarter valued at about $66,227,000. Segra Capital Management LLC bought a new position in shares of Cameco in the 3rd quarter valued at about $53,013,000. Fred Alger Management LLC grew its holdings in shares of Cameco by 99.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after acquiring an additional 839,077 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Cameco by 44.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after acquiring an additional 664,828 shares in the last quarter. 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.