Cameco (NYSE:CCJ) Trading Up 1.6% – Still a Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 1.6% during trading on Tuesday . The stock traded as high as $53.43 and last traded at $52.89. Approximately 1,336,467 shares changed hands during trading, a decline of 70% from the average daily volume of 4,392,717 shares. The stock had previously closed at $52.08.

Wall Street Analysts Forecast Growth

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

Cameco Stock Performance

The company has a market capitalization of $23.11 billion, a PE ratio of 283.49 and a beta of 0.89. The business’s 50-day moving average is $49.10 and its 200-day moving average is $48.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

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). The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share. On average, research analysts anticipate that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s payout ratio is 47.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Glenmede Trust Co. NA boosted its position in shares of Cameco by 2.1% in the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 191 shares during the period. S.A. Mason LLC lifted its holdings in shares of Cameco by 6.0% in the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after buying an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC lifted its holdings in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after buying an additional 210 shares in the last quarter. EdgeRock Capital LLC lifted its holdings in shares of Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after buying an additional 224 shares in the last quarter. Finally, LRI Investments LLC lifted its holdings in shares of Cameco by 39.0% in the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other 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.