Cameco (NYSE:CCJ) Stock Price Up 1.7% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price shot up 1.7% during trading on Thursday . The company traded as high as $54.09 and last traded at $53.86. 1,106,145 shares were traded during trading, a decline of 75% from the average session volume of 4,402,798 shares. The stock had previously closed at $52.98.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 283.49 and a beta of 0.89. The firm’s 50-day moving average is $49.10 and its 200 day moving average is $48.27.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. Sell-side analysts anticipate that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is 47.37%.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Glenmede Trust Co. NA grew its stake in shares of Cameco by 2.1% in the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after buying an additional 191 shares in the last quarter. S.A. Mason LLC lifted its position in Cameco by 6.0% during the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after acquiring an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC boosted its holdings in Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 210 shares during the period. EdgeRock Capital LLC grew its position in Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 224 shares in the last quarter. Finally, LRI Investments LLC raised its stake in shares of Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.