Cameco (NYSE:CCJ) Trading Up 1.9% – Should You Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was up 1.9% during trading on Wednesday . The stock traded as high as $49.76 and last traded at $49.51. Approximately 2,009,580 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 4,831,414 shares. The stock had previously closed at $48.60.

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 equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Down 1.7 %

The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $21.52 billion, a PE ratio of 260.17 and a beta of 0.95. The stock has a 50-day moving average of $53.99 and a 200 day 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) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. Sell-side analysts anticipate that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

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

Institutional Trading of Cameco

A number of large investors have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in shares of Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after acquiring an additional 1,386,639 shares during the period. M&G PLC bought a new position in shares of Cameco in the third quarter worth $66,227,000. Segra Capital Management LLC bought a new position in shares of Cameco in the third quarter worth $53,013,000. Fred Alger Management LLC boosted its holdings in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after acquiring an additional 839,077 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cameco by 44.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after acquiring an additional 664,828 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Company Profile

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.