Cameco (NYSE:CCJ) Stock Price Up 0.4% - What's Next?

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shot up 0.4% during trading on Wednesday . The stock traded as high as $58.75 and last traded at $57.69. 1,708,289 shares were traded during trading, a decline of 62% from the average session volume of 4,444,170 shares. The stock had previously closed at $57.46.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CCJ shares. Janney Montgomery Scott upgraded shares of Cameco to a "strong-buy" rating in a research report on Friday, October 4th. Glj Research reaffirmed a "buy" rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a research report on Tuesday, September 3rd. Finally, Scotiabank lowered 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. 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Performance

The company's 50-day moving average price is $50.51 and its 200 day moving average price is $48.47. The stock has a market capitalization of $24.82 billion, a PE ratio of 303.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $646.83 million. During the same quarter last year, the business earned $0.24 earnings per share. The business's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts expect that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is a positive change from Cameco's previous annual dividend of $0.09. Cameco's dividend payout ratio (DPR) is currently 57.89%.

Institutional Trading of Cameco

Hedge funds and other institutional investors have recently modified their holdings of the business. Moody Lynn & Lieberson LLC purchased a new stake in Cameco in the third quarter worth about $1,680,000. Tidal Investments LLC grew its stake 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 worth $868,000 after buying an additional 2,683 shares during the last quarter. Country Club Bank bought a new position in Cameco during the 3rd quarter valued at approximately $2,093,000. Van ECK Associates Corp increased its position in Cameco by 48.1% during the 3rd 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 in the last quarter. Finally, LRI Investments LLC purchased a new position in Cameco during the first quarter valued at $30,000. 70.21% of the stock is 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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