Cameco (NYSE:CCJ) Shares Up 2.6% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were up 2.6% on Friday . The stock traded as high as $91.68 and last traded at $89.90. Approximately 6,128,426 shares changed hands during trading, an increase of 28% from the average daily volume of 4,805,985 shares. The stock had previously closed at $87.58.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCJ. Glj Research restated a “buy” rating and set a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. The Goldman Sachs Group upped their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cameco in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.25.

Cameco Stock Up 2.6%

The firm’s 50-day simple moving average is $90.37 and its 200-day simple moving average is $80.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company has a market capitalization of $39.14 billion, a price-to-earnings ratio of 104.53 and a beta of 1.07.

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

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were given a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date was Monday, December 1st. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

Institutional Investors Weigh In On Cameco

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of Cameco by 3.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 120 shares during the period. Hager Investment Management Services LLC lifted its stake in Cameco by 0.4% during the second quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after purchasing an additional 127 shares during the period. Lee Johnson Capital Management LLC boosted its holdings in Cameco by 1.2% during the third quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 127 shares in the last quarter. Delos Wealth Advisors LLC grew its stake in shares of Cameco by 60.0% in the 3rd quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Finally, Wealth Alliance LLC grew its stake in shares of Cameco by 1.6% in the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock valued at $745,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.