Cameco (NYSE:CCJ) Sets New 1-Year High – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $129.79 and last traded at $127.9430, with a volume of 1602626 shares traded. The stock had previously closed at $125.97.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCJ shares. Glj Research restated a “buy” rating and issued a $99.74 price objective on shares of Cameco in a report on Wednesday, December 3rd. UBS Group initiated coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target for the company. The Goldman Sachs Group increased their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada decreased their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Zacks Research raised Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. Two equities research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $121.68.

Cameco Stock Performance

The company has a market capitalization of $56.34 billion, a price-to-earnings ratio of 150.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The stock has a 50 day simple moving average of $97.91 and a two-hundred day simple moving average of $88.18.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data 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). The business had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company’s revenue was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Financial Consulate Inc. purchased a new stake in Cameco in the third quarter valued at $25,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the fourth quarter worth about $25,000. Founders Capital Management acquired a new stake in shares of Cameco during the fourth quarter worth about $27,000. Strategic Advocates LLC purchased a new stake in shares of Cameco in the 3rd quarter valued at about $28,000. Finally, Trust Co. of Vermont boosted its position in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 350 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.