Cameco (NYSE:CCJ) Shares Up 5.2% – Should You Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 5.2% during mid-day trading on Thursday . The stock traded as high as $94.53 and last traded at $94.07. Approximately 4,123,080 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 4,846,536 shares. The stock had previously closed at $89.45.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of research analyst reports. CLSA began coverage on shares of Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price for the company. Glj Research reiterated a “buy” rating and set a $99.74 price objective on shares of Cameco in a research report on Wednesday. Royal Bank Of Canada dropped their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. UBS Group assumed coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. Finally, Raymond James Financial raised their price objective on shares of Cameco to $150.00 in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Stock Performance

The company has a market cap of $39.74 billion, a P/E ratio of 106.13 and a beta of 1.07. The business’s 50 day simple moving average is $89.39 and its 200 day simple moving average is $78.91. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a dividend yield of 27.0%. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. Cameco’s dividend payout ratio is currently 19.77%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Cameco by 1.3% in the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock worth $1,493,978,000 after buying an additional 235,613 shares in the last quarter. Alliancebernstein L.P. grew its stake in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. Capital World Investors increased its holdings in Cameco by 0.8% in the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after acquiring an additional 106,872 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cameco by 0.7% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after purchasing an additional 85,762 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.