Cameco (NYSE:CCJ) Trading 0.5% Higher – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price traded up 0.5% during trading on Thursday . The company traded as high as $51.64 and last traded at $50.30. 2,272,865 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 4,856,057 shares. The stock had previously closed at $50.07.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One research 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 company currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 1.7 %

The stock’s 50 day simple moving average is $53.99 and its two-hundred day simple moving average is $49.33. The stock has a market capitalization of $21.52 billion, a PE ratio of 260.17 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, sell-side analysts expect that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in the business. Sierra Ocean LLC bought a new stake in shares of Cameco in the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Pingora Partners LLC purchased a new stake in Cameco during the third quarter valued at about $33,000. First Horizon Advisors Inc. grew its stake in shares of Cameco by 84.2% during 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 last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Cameco in the 3rd quarter worth approximately $38,000. 70.21% of the stock is currently owned by 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.