Cameco (NYSE:CCJ) Trading 0.5% Higher – Still a Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were up 0.5% during trading on Thursday . The stock traded as high as $51.64 and last traded at $50.30. Approximately 2,272,865 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 4,856,057 shares. The stock had previously closed at $50.07.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Performance

The firm has a market capitalization of $21.86 billion, a PE ratio of 264.32 and a beta of 0.95. 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 business has a 50-day simple moving average of $54.20 and a 200-day simple moving average of $49.33.

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 (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 company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities research analysts expect that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA raised its position in Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares in the last quarter. S.A. Mason LLC raised its holdings in shares of Cameco by 6.0% in the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC lifted its position in shares of Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 210 shares during the period. EdgeRock Capital LLC increased its holdings in Cameco by 1.7% during the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after buying an additional 224 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. 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.