Cameco (NYSE:CCJ) Shares Up 3.9% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 3.9% during mid-day trading on Wednesday . The stock traded as high as $56.25 and last traded at $55.64. Approximately 3,003,437 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 3,722,396 shares. The stock had previously closed at $53.56.

Analyst Upgrades and Downgrades

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

Cameco Stock Up 6.3 %

The stock has a market capitalization of $24.78 billion, a P/E ratio of 299.79 and a beta of 0.95. The company has a fifty day moving average price of $54.50 and a 200-day moving average price of $49.27. 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 issued its quarterly earnings data 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, research analysts forecast that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.118 per share. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is currently 63.16%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CCJ. Dantai Capital Ltd grew its holdings in Cameco by 44.2% during 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 in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Cameco during the third quarter worth approximately $5,305,000. Telemark Asset Management LLC lifted its holdings in 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 worth $62,088,000 after acquiring an additional 100,000 shares in the last quarter. Roberts Wealth Advisors LLC bought a new position in shares of Cameco in the 4th quarter valued at about $895,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Cameco by 1,138.1% during the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock worth $12,774,000 after buying an additional 245,831 shares during the last quarter. Institutional investors and hedge funds 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.