Cameco (NYSE:CCJ) Sets New 52-Week High – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $61.05 and last traded at $60.28, with a volume of 860026 shares trading hands. The stock had previously closed at $59.45.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank dropped their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One 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 company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Up 1.0 %

The company’s 50-day moving average is $53.87 and its 200 day moving average is $49.04. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 312.60 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company 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 revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. Research analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

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

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC increased its position in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 2,683 shares during the last quarter. First Hawaiian Bank increased its position in shares of Cameco by 9.3% during the second quarter. First Hawaiian Bank now owns 5,763 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 490 shares during the last quarter. CWM LLC raised its stake in shares of Cameco by 15.4% in the 2nd quarter. CWM LLC now owns 2,663 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 355 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Cameco in the 2nd quarter worth approximately $207,000. Finally, Simplicity Wealth LLC boosted its position in shares of Cameco by 1.7% during the 2nd quarter. Simplicity Wealth LLC now owns 62,171 shares of the basic materials company’s stock worth $3,059,000 after purchasing an additional 1,062 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.