Cameco (NYSE:CCJ) Shares Up 5.2% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shot up 5.2% during mid-day trading on Thursday . The stock traded as high as $94.53 and last traded at $94.07. 4,123,080 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 4,846,536 shares. The stock had previously closed at $89.45.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. UBS Group began coverage on Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. The Goldman Sachs Group lifted their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. Finally, Raymond James Financial increased their target price on Cameco to $150.00 in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Cameco Stock Up 5.2%

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The stock has a 50 day simple moving average of $89.10 and a 200-day simple moving average of $78.34. The firm has a market cap of $40.96 billion, a PE ratio of 109.38 and a beta of 1.07.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. Sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 1st. This represents a yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is 19.77%.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC lifted its position in Cameco by 100.0% in the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 300 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of Cameco during the third quarter valued at $25,000. Dagco Inc. purchased a new stake in shares of Cameco during the 1st quarter valued at about $28,000. Strategic Advocates LLC bought a new stake in Cameco in the 3rd quarter worth approximately $28,000. Finally, SVB Wealth LLC purchased a new stake in Cameco during the first quarter valued at $29,000. Institutional investors own 70.21% of the company’s stock.

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.