Cameco Co. (NYSE:CCJ) Receives Average Rating of “Buy” from Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $66.56.

A number of research firms have recently weighed in on CCJ. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, Scotiabank decreased their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently bought and sold shares of the business. Telemark Asset Management LLC raised its holdings in shares of Cameco by 8.3% in the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after purchasing an additional 100,000 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Cameco in the third quarter valued at $1,680,000. Swiss National Bank lifted its position in shares of Cameco by 0.9% during the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after acquiring an additional 11,600 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 2,683 shares in the last quarter. Finally, Country Club Bank acquired a new stake in shares of Cameco during the third quarter worth $2,093,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Price Performance

Shares of CCJ opened at $58.85 on Thursday. Cameco has a 12 month low of $35.43 and a 12 month high of $61.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a fifty day moving average price of $53.62 and a 200 day moving average price of $49.00. The company has a market cap of $25.61 billion, a P/E ratio of 309.71 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. On average, research analysts forecast that Cameco will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

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.