Cameco (NYSE:CCJ) Trading 4.8% Higher – Here’s What Happened

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were up 4.8% during trading on Tuesday . The company traded as high as $128.15 and last traded at $125.9540. Approximately 5,063,861 shares were traded during trading, an increase of 4% from the average daily volume of 4,869,031 shares. The stock had previously closed at $120.21.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Royal Bank Of Canada cut 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. Glj Research reaffirmed a “buy” rating and issued a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. The Goldman Sachs Group increased their price target on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, 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 objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $121.68.

Cameco Stock Performance

The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $101.51 and a 200 day simple moving average of $89.63. The company has a market cap of $54.85 billion, a price-to-earnings ratio of 146.46 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share. On average, 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 was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were paid a $0.24 dividend. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a 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

Several hedge funds have recently made changes to their positions in the business. Bison Wealth LLC raised its stake in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after acquiring an additional 2,975 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after purchasing an additional 64,512 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Cameco by 2.4% during the second quarter. Janney Montgomery Scott LLC now owns 75,284 shares of the basic materials company’s stock worth $5,588,000 after purchasing an additional 1,796 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

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.