Cameco (NYSE:CCJ) Trading Up 1.3% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price shot up 1.3% during trading on Friday . The company traded as high as $51.09 and last traded at $50.97. 770,060 shares changed hands during trading, a decline of 84% from the average session volume of 4,807,242 shares. The stock had previously closed at $50.30.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Down 1.7 %

The stock’s fifty day simple moving average is $53.99 and its two-hundred day simple moving average is $49.33. The firm has a market cap of $21.53 billion, a PE ratio of 260.80 and a beta of 0.95. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share 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 company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Trading of Cameco

A number of large investors have recently made changes to their positions in CCJ. Truist Financial Corp lifted its holdings in shares of Cameco by 8.3% during the 4th quarter. Truist Financial Corp now owns 28,111 shares of the basic materials company’s stock valued at $1,445,000 after buying an additional 2,153 shares during the period. Burke & Herbert Bank & Trust Co. bought a new stake in shares of Cameco during the 4th quarter valued at $216,000. Highview Capital Management LLC DE increased its stake in shares of Cameco by 5.0% in the 4th quarter. Highview Capital Management LLC DE now owns 6,246 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 300 shares in the last quarter. NTV Asset Management LLC lifted its position in Cameco by 51.9% during the fourth quarter. NTV Asset Management LLC now owns 77,269 shares of the basic materials company’s stock valued at $3,971,000 after purchasing an additional 26,414 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Cameco by 11.6% during the fourth quarter. Sanctuary Advisors LLC now owns 15,587 shares of the basic materials company’s stock valued at $784,000 after purchasing an additional 1,618 shares during the period. 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.