Cameco (NYSE:CCJ) Trading 4.9% Higher – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was up 4.9% on Monday . The company traded as high as $83.48 and last traded at $83.31. Approximately 3,672,104 shares changed hands during trading, a decline of 25% from the average daily volume of 4,900,148 shares. The stock had previously closed at $79.44.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. UBS Group began coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. TD Securities reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday, August 5th. Finally, Raymond James Financial boosted their price objective on shares of Cameco to $150.00 in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Price Performance

The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 102.17 and a beta of 0.98. The stock has a fifty day moving average of $88.75 and a two-hundred day moving average of $77.05. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. During the same quarter in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, December 1st. This represents a dividend yield of 25.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is currently 19.77%.

Institutional Trading of Cameco

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Cameco in the second quarter valued at $341,736,000. Alliancebernstein L.P. lifted its stake in shares of Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after purchasing an additional 3,959,837 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after acquiring an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the period. Finally, Van ECK Associates Corp grew its position in Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares in 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.