Cameco (NYSE:CCJ) Sees Large Volume Increase – Time to Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) saw an uptick in trading volume on Monday . 4,285,750 shares were traded during trading, an increase of 4% from the previous session’s volume of 4,118,997 shares.The stock last traded at $50.68 and had previously closed at $56.00.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Up 2.3 %

The stock’s fifty day simple moving average is $54.53 and its two-hundred day simple moving average is $49.35. The firm has a market cap of $21.15 billion, a PE ratio of 255.77 and a beta of 0.95. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period last year, the business earned $0.24 EPS. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dantai Capital Ltd raised its holdings in Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after acquiring an additional 17,560 shares during the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Cameco in the 4th quarter worth $895,000. Whalen Wealth Management Inc. purchased a new position in shares of Cameco in the fourth quarter worth $445,000. iA Global Asset Management Inc. bought a new position in shares of Cameco during the third quarter valued at $5,305,000. Finally, Telemark Asset Management LLC boosted its position in shares of Cameco by 8.3% during the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.