Cameco (NYSE:CCJ) Stock Price Up 0.7% - Here's Why

Shares of Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO were up 0.7% on Tuesday . The company traded as high as $48.54 and last traded at $47.86. Approximately 2,678,147 shares changed hands during trading, a decline of 43% from the average daily volume of 4,715,854 shares. The stock had previously closed at $47.51.

Wall Street Analysts Forecast Growth

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

Cameco Stock Up 2.3 %

The business has a 50-day simple moving average of $54.53 and a two-hundred day simple moving average of $49.35. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 255.77 and a beta of 0.95. 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 posted its quarterly earnings data 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 business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same period in the prior year, the firm posted $0.24 EPS. Cameco's revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts forecast that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company's stock valued at $3,530,000 after purchasing an additional 53,144 shares during the period. Susquehanna Fundamental Investments LLC grew its position in Cameco by 1,489.7% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 108,100 shares of the basic materials company's stock worth $5,319,000 after acquiring an additional 101,300 shares during the last quarter. Creative Planning grew its position in Cameco by 53.4% during the 2nd quarter. Creative Planning now owns 50,352 shares of the basic materials company's stock worth $2,477,000 after acquiring an additional 17,536 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Cameco by 78.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,788 shares of the basic materials company's stock worth $285,000 after acquiring an additional 2,552 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Cameco during the 2nd quarter worth approximately $542,000. 70.21% of the stock is currently owned by 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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