Cameco (TSE:CCO) Reaches New 1-Year High – Time to Buy?

Cameco Co. (TSE:CCO) (NYSE:CCJ) shares hit a new 52-week high on Monday . The company traded as high as C$85.35 and last traded at C$85.15, with a volume of 56640 shares changing hands. The stock had previously closed at C$83.85.

Wall Street Analyst Weigh In

CCO has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on Cameco from C$75.00 to C$90.00 in a research note on Thursday, November 21st. Canaccord Genuity Group lifted their target price on Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Scotiabank lifted their price objective on shares of Cameco from C$80.00 to C$86.00 in a research note on Tuesday, November 19th. Finally, Eight Capital raised their target price on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Seven equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$84.30.

Cameco Stock Performance

The company has a quick ratio of 3.74, a current ratio of 3.22 and a debt-to-equity ratio of 25.39. The firm has a market cap of C$36.36 billion, a price-to-earnings ratio of 141.63, a P/E/G ratio of 2.22 and a beta of 0.90. The business’s 50-day simple moving average is C$73.65 and its two-hundred day simple moving average is C$67.39.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is currently 20.34%.

Insider Buying and Selling at Cameco

In other news, Senior Officer Brian Arthur Reilly sold 14,062 shares of Cameco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total value of C$1,124,678.76. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of C$70.49, for a total value of C$239,666.00. Insiders have sold a total of 34,362 shares of company stock valued at $2,757,122 over the last ninety days. Corporate insiders own 0.15% 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.