Cameco (NYSE:CCJ) Stock Price Up 1.6% - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's stock price rose 1.6% during mid-day trading on Thursday . The company traded as high as $52.79 and last traded at $52.20. Approximately 1,380,004 shares were traded during trading, a decline of 68% from the average daily volume of 4,334,421 shares. The stock had previously closed at $51.39.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research note on Friday, October 4th. One investment 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 data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $66.56.

Cameco Trading Up 1.5 %

The company's 50-day moving average price is $54.97 and its 200-day moving average price is $49.26. The firm has a market capitalization of $22.70 billion, a PE ratio of 274.54 and a beta of 0.91. 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 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). The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business'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. On average, sell-side analysts expect that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a $0.118 dividend. The ex-dividend date was Wednesday, November 27th. This is a boost from Cameco's previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco's dividend payout ratio is 57.89%.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in 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 worth $27,000 after purchasing an additional 238 shares during the period. Pingora Partners LLC acquired a new stake in shares of Cameco during the third quarter worth about $33,000. First Horizon Advisors Inc. grew its holdings in shares of Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company's stock worth $37,000 after buying an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cameco in the 3rd quarter valued at about $38,000. Finally, JFS Wealth Advisors LLC raised its stake in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company's stock valued at $46,000 after acquiring an additional 550 shares during the last quarter. 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.