Cameco (NYSE:CCJ) Shares Up 0.1% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price rose 0.1% during mid-day trading on Wednesday . The company traded as high as $51.80 and last traded at $51.39. Approximately 2,820,411 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,334,421 shares. The stock had previously closed at $51.33.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Up 1.5 %

The stock has a market capitalization of $22.70 billion, a PE ratio of 274.54 and a beta of 0.91. 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 company’s 50-day moving average is $54.97 and its 200 day moving average is $49.26.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, analysts anticipate that Cameco Co. will post 0.51 EPS 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 issued a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s payout ratio is 57.89%.

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently bought and sold shares of CCJ. William Blair Investment Management LLC raised its holdings in shares of Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after purchasing an additional 265,196 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Cameco by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock valued at $192,622,000 after buying an additional 176,183 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares during the period. Cibc World Market Inc. boosted its stake in shares of Cameco by 3.7% in the second quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock worth $161,022,000 after buying an additional 117,722 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Cameco by 16.9% during the second quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company’s stock worth $129,540,000 after acquiring an additional 381,176 shares during the period. 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.