Cameco (NYSE:CCJ) Stock Price Up 0.6% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares rose 0.6% during mid-day trading on Friday . The stock traded as high as $53.02 and last traded at $52.47. Approximately 1,092,546 shares traded hands during trading, a decline of 53% from the average daily volume of 2,338,018 shares. The stock had previously closed at $52.16.

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 research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 0.7 %

The firm’s 50 day moving average price is $54.97 and its 200-day moving average price is $49.26. 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 company has a market cap of $22.87 billion, a P/E ratio of 276.59 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $646.83 million. During the same period in the prior year, the firm posted $0.24 EPS. Cameco’s revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts expect that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $0.118 dividend. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. Cameco’s payout ratio is presently 57.89%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 valued at $27,000 after acquiring an additional 238 shares in the last quarter. Pingora Partners LLC acquired a new position in Cameco during the third quarter worth $33,000. First Horizon Advisors Inc. grew its position in Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cameco during the 3rd quarter worth about $38,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after buying an additional 550 shares during the last quarter. 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.