Cameco (NYSE:CCJ) Trading Up 2.3% – Here’s What Happened

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) rose 2.3% during trading on Tuesday . The stock traded as high as $50.28 and last traded at $49.91. Approximately 641,142 shares changed hands during trading, a decline of 81% from the average daily volume of 3,448,125 shares. The stock had previously closed at $48.80.

Analysts Set New Price Targets

Separately, 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

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 stock has a market cap of $21.41 billion, a P/E ratio of 258.96 and a beta of 0.95. The firm’s fifty day moving average price is $54.70 and its 200-day moving average price is $49.23.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its 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). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm 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 posted $0.24 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts forecast that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Choreo LLC bought a new position in Cameco in the 2nd quarter worth $440,000. Oppenheimer & Co. Inc. lifted its holdings in Cameco by 21.2% in the second quarter. Oppenheimer & Co. Inc. now owns 29,538 shares of the basic materials company’s stock worth $1,453,000 after buying an additional 5,168 shares during the period. DekaBank Deutsche Girozentrale boosted its position in Cameco by 120.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 274,826 shares of the basic materials company’s stock valued at $14,373,000 after acquiring an additional 150,005 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Cameco by 7.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 208,184 shares of the basic materials company’s stock worth $10,243,000 after acquiring an additional 13,588 shares during the period. Finally, WINTON GROUP Ltd raised its position in shares of Cameco by 8.4% in the 2nd quarter. WINTON GROUP Ltd now owns 24,150 shares of the basic materials company’s stock worth $1,188,000 after acquiring an additional 1,868 shares in the last quarter. 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.