Cameco (NYSE:CCJ) Stock Price Up 0.5% - Here's Why

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO shares were up 0.5% on Thursday . The company traded as high as $51.64 and last traded at $50.30. Approximately 2,272,865 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 4,856,057 shares. The stock had previously closed at $50.07.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded shares of Cameco to a "strong-buy" rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $66.56.

Cameco Stock Up 0.3 %

The company has a 50 day moving average price of $54.20 and a two-hundred day moving average price of $49.33. The stock has a market cap of $21.86 billion, a PE ratio of 264.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to analysts' expectations of $646.83 million. During the same period in the previous year, the business earned $0.24 EPS. The business's revenue was up 25.4% compared to the same quarter last year. Analysts expect that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.118 per share. This represents a dividend yield of 0.22%. This is a boost from Cameco's previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. Cameco's dividend payout ratio is presently 63.16%.

Institutional Trading of Cameco

Several large investors have recently modified their holdings of CCJ. Thurston Springer Miller Herd & Titak Inc. increased its position in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock worth $27,000 after buying an additional 238 shares in the last quarter. Pingora Partners LLC purchased a new position in Cameco during the third quarter valued at approximately $33,000. First Horizon Advisors Inc. boosted its position in shares of Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company's stock worth $37,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Cameco during the 3rd quarter valued at $38,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company's stock valued at $42,000 after buying an additional 267 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Company Profile

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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