Cameco (NYSE:CCJ) Stock Price Up 0.4% – Here’s Why

by · The Markets Daily

Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO)’s stock price was up 0.4% during trading on Tuesday . The company traded as high as $51.80 and last traded at $51.56. Approximately 1,188,683 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 4,327,700 shares. The stock had previously closed at $51.33.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised shares of 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 company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Check Out Our Latest Stock Analysis on Cameco

Cameco Trading Up 0.2 %

The company has a 50 day moving average of $55.17 and a 200-day moving average of $49.23. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 270.80 and a beta of 0.91. 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 – Get Free Report) (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 the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. On average, research analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is 57.89%.

Hedge Funds Weigh In On Cameco

Several large investors have recently bought and sold shares of the business. William Blair Investment Management LLC grew its holdings in shares of Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after purchasing an additional 265,196 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Cameco by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock valued at $192,622,000 after buying an additional 176,183 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the period. Cibc World Market Inc. grew its position in Cameco by 3.7% during the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock worth $161,022,000 after purchasing an additional 117,722 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Cameco by 16.9% during the second quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company’s stock valued at $129,540,000 after buying an additional 381,176 shares during the period. Hedge funds and other institutional investors 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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