Cameco (NYSE:CCJ) Shares Up 3.7% - Here's Why

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price shot up 3.7% during mid-day trading on Monday . The stock traded as high as $56.18 and last traded at $55.57. 1,922,585 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 4,432,047 shares. The stock had previously closed at $53.59.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Scotiabank decreased their price objective on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a research report on Friday, October 4th. Finally, Glj Research reaffirmed a "buy" rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Performance

The firm has a 50-day moving average price of $49.73 and a 200 day moving average price of $48.36. The firm has a market capitalization of $24.37 billion, a PE ratio of 292.49 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS 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 company had revenue of $721.00 million for the quarter, compared to analysts' expectations of $646.83 million. During the same quarter last year, the company earned $0.24 EPS. Cameco's revenue for the quarter was up 25.4% compared to the same quarter last year. Research analysts expect that Cameco Co. will post 0.7 earnings per share for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $0.118 dividend. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Cameco's previous annual dividend of $0.09. Cameco's payout ratio is currently 47.37%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Moody Lynn & Lieberson LLC purchased a new stake in shares of Cameco during the 3rd quarter valued at about $1,680,000. Tidal Investments LLC boosted its holdings in shares of Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company's stock valued at $868,000 after buying an additional 2,683 shares during the period. Country Club Bank bought a new stake in shares of Cameco in the 3rd quarter worth approximately $2,093,000. Van ECK Associates Corp lifted its stake in Cameco by 48.1% in the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company's stock valued at $75,691,000 after buying an additional 515,046 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Cameco during the 1st quarter valued at about $30,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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