Cameco (NYSE:CCJ) Trading Up 6.3% – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 6.3% during mid-day trading on Wednesday . The stock traded as high as $134.13 and last traded at $133.9460. 5,923,461 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 4,518,874 shares. The stock had previously closed at $125.97.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CCJ shares. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. UBS Group began coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective for the company. Royal Bank Of Canada reduced their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Finally, Sanford C. Bernstein upped their target price on shares of Cameco from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $121.68.

Cameco Trading Down 7.7%

The company’s 50 day simple moving average is $100.77 and its 200-day simple moving average is $89.15. The firm has a market cap of $53.71 billion, a P/E ratio of 143.43 and a beta of 1.01. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

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

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Bridge LLC grew its position in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares during the period. S.A. Mason LLC grew its holdings in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares during the period. GAMMA Investing LLC raised its position in Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 112 shares in the last quarter. International Assets Investment Management LLC boosted its position in Cameco by 3.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after purchasing an additional 120 shares in the last quarter. Finally, Eagle Global Advisors LLC grew its stake in shares of Cameco by 2.1% during the 4th quarter. Eagle Global Advisors LLC now owns 6,023 shares of the basic materials company’s stock worth $551,000 after purchasing an additional 123 shares during the period. Institutional investors 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.