Cameco (NYSE:CCJ) Trading 1.4% Higher – What’s Next?

by · The Cerbat Gem

Shares of Cameco Corporation (NYSE:CCJGet Free Report) (TSE:CCO) shot up 1.4% on Wednesday . The stock traded as high as $90.04 and last traded at $89.4970. 1,878,908 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 4,849,634 shares. The stock had previously closed at $88.23.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CCJ. TD Securities reissued a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Raymond James Financial boosted their target price on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Finally, UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Read Our Latest Analysis on CCJ

Cameco Stock Up 1.4%

The firm has a fifty day moving average price of $88.98 and a 200 day moving average price of $78.26. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The company has a market cap of $38.97 billion, a P/E ratio of 104.07 and a beta of 1.07.

Cameco (NYSE:CCJGet Free Report) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. Equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. This represents a dividend yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. Cameco’s payout ratio is currently 19.77%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Manchester Capital Management LLC increased its stake in shares of Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after buying an additional 300 shares during the period. Financial Consulate Inc. bought a new position in Cameco in the third quarter valued at about $25,000. Dagco Inc. acquired a new stake in Cameco in the first quarter worth about $28,000. Strategic Advocates LLC acquired a new stake in Cameco in the third quarter worth about $28,000. Finally, SVB Wealth LLC bought a new stake in Cameco during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

(Get Free Report)

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.

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