Cameco (NYSE:CCJ) Shares Up 1.9% – Still a Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 1.9% on Wednesday . The company traded as high as $49.76 and last traded at $49.51. Approximately 2,009,580 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 4,831,414 shares. The stock had previously closed at $48.60.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Up 3.0 %

The company has a market cap of $21.79 billion, a price-to-earnings ratio of 263.47 and a beta of 0.95. The business’s fifty day moving average price is $54.35 and its 200 day moving average price is $49.32. 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) (TSE:CCO) last issued its quarterly earnings results 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). The company 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 company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. Research analysts anticipate 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. Stockholders of record on Wednesday, November 27th were given a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is 63.16%.

Institutional Investors Weigh In On Cameco

Several large investors have recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of Cameco by 285.3% during the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock valued at $3,530,000 after acquiring an additional 53,144 shares during the period. Creative Planning raised its holdings in shares of Cameco by 53.4% during the second quarter. Creative Planning now owns 50,352 shares of the basic materials company’s stock valued at $2,477,000 after purchasing an additional 17,536 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 purchasing an additional 2,552 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Cameco in the 2nd quarter valued at about $542,000. Finally, Granite Bay Wealth Management LLC bought a new stake in Cameco in the 2nd quarter valued at about $273,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.