Cameco (NYSE:CCJ) Shares Up 2.3% - Here's What Happened

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO rose 2.3% during mid-day trading on Tuesday . The company traded as high as $50.28 and last traded at $49.91. Approximately 641,142 shares changed hands during trading, a decline of 81% from the average daily volume of 3,448,125 shares. The stock had previously closed at $48.80.

Analyst Ratings Changes

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

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $21.53 billion, a PE ratio of 260.31 and a beta of 0.95. The business has a 50-day moving average price of $54.55 and a 200 day moving average price of $49.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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). The business had revenue of $721.00 million for the quarter, compared to analysts' expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. Cameco's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. As a group, research analysts forecast that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $0.118 dividend. 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%.

Institutional Investors Weigh In On Cameco

Several institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA grew its position 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 purchasing an additional 191 shares in the last quarter. S.A. Mason LLC boosted its stake in Cameco by 6.0% in the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company's stock worth $175,000 after purchasing an additional 206 shares during the period. Silvia Mccoll Wealth Management LLC grew its stake in Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company's stock valued at $268,000 after acquiring an additional 210 shares in the last quarter. EdgeRock Capital LLC increased its holdings in shares of Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company's stock worth $654,000 after purchasing an additional 224 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other 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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