Cameco (NYSE:CCJ) Trading Up 3.7% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares rose 3.7% on Monday . The stock traded as high as $56.18 and last traded at $55.57. Approximately 1,922,585 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,432,047 shares. The stock had previously closed at $53.59.

Analyst Ratings Changes

CCJ has been the subject of several research reports. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 2.8 %

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 stock’s fifty day simple moving average is $50.51 and its 200-day simple moving average is $48.47. The firm has a market cap of $25.00 billion, a PE ratio of 302.33 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results 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 period last year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Co. will post 0.7 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is 47.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in shares of Cameco by 172.3% during the third quarter. Toronto Dominion Bank now owns 817,028 shares of the basic materials company’s stock worth $39,021,000 after purchasing an additional 517,035 shares during the last quarter. Geode Capital Management LLC grew its position in Cameco by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,911,614 shares of the basic materials company’s stock valued at $91,558,000 after buying an additional 177,551 shares during the period. Segra Capital Management LLC acquired a new stake in Cameco during the third quarter valued at $53,013,000. Duff & Phelps Investment Management Co. grew its position in Cameco by 31.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 13,853 shares of the basic materials company’s stock valued at $662,000 after buying an additional 3,322 shares during the period. Finally, Continuum Advisory LLC grew its position in Cameco by 108,100.0% during the third quarter. Continuum Advisory LLC now owns 31,378 shares of the basic materials company’s stock valued at $1,499,000 after buying an additional 31,349 shares during the period. Hedge funds and other 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.