Cameco (NYSE:CCJ) Trading Up 0.3% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 0.3% on Thursday . The company traded as high as $56.81 and last traded at $56.49. Approximately 1,368,007 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 3,853,881 shares. The stock had previously closed at $56.32.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised 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 issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The firm has a 50-day simple moving average of $54.57 and a 200-day simple moving average of $49.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market capitalization of $24.71 billion, a PE ratio of 298.66 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the business earned $0.24 EPS. The company’s revenue was up 25.4% compared to the same quarter last year. As a group, equities analysts forecast that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CCJ. Envestnet Asset Management Inc. grew its position in shares of Cameco by 7.0% during the second quarter. Envestnet Asset Management Inc. now owns 208,184 shares of the basic materials company’s stock worth $10,243,000 after purchasing an additional 13,588 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cameco by 20.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,838 shares of the basic materials company’s stock worth $484,000 after buying an additional 1,700 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cameco by 285.3% during the second quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after acquiring an additional 53,144 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Cameco during the second quarter valued at $332,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Cameco by 445.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,220 shares of the basic materials company’s stock valued at $146,000 after acquiring an additional 2,630 shares during the last quarter. Hedge funds and other 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.