Cameco (NYSE:CCJ) Shares Up 4.1% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 4.1% during mid-day trading on Friday . The company traded as high as $51.38 and last traded at $51.54. 1,442,103 shares traded hands during trading, a decline of 56% from the average session volume of 3,286,416 shares. The stock had previously closed at $49.51.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

The stock’s 50 day moving average is $54.55 and its two-hundred day moving average is $49.24. The stock has a market capitalization of $22.52 billion, a price-to-earnings ratio of 272.33 and a beta of 0.95. The company has a current ratio of 2.88, a quick ratio of 1.26 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 (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $646.83 million. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. Analysts expect that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. Driehaus Capital Management LLC increased its position in shares of Cameco by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock worth $192,622,000 after purchasing an additional 176,183 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares during the last quarter. Bridgewater Associates LP lifted its stake in Cameco by 19.9% in the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after acquiring an additional 410,711 shares during the last quarter. Progeny 3 Inc. raised its stake in Cameco by 7.5% in the 3rd quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock valued at $108,326,000 after acquiring an additional 159,200 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after purchasing an additional 187,512 shares during the period. 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.