Cameco (NYSE:CCJ) Trading 1.9% Higher – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price shot up 1.9% during trading on Monday . The stock traded as high as $94.88 and last traded at $91.7340. 3,030,076 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 4,799,239 shares. The stock had previously closed at $89.99.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Raymond James Financial upped their price objective on Cameco to $150.00 in a research report on Wednesday, October 29th. National Bankshares restated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Trading Up 1.9%

The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $90.43 and its 200 day moving average is $81.34. The stock has a market cap of $39.94 billion, a PE ratio of 106.67 and a beta of 1.07.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its 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). The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were paid a $0.24 dividend. This represents a yield of 27.0%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is presently 19.77%.

Hedge Funds Weigh In On Cameco

Large investors have recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd increased its stake in shares of Cameco by 15.9% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 68,695 shares of the basic materials company’s stock valued at $5,773,000 after acquiring an additional 9,435 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Cameco in the third quarter worth approximately $153,000. Cantor Fitzgerald L. P. grew its holdings in Cameco by 69.8% in the third quarter. Cantor Fitzgerald L. P. now owns 12,503 shares of the basic materials company’s stock valued at $1,049,000 after purchasing an additional 5,140 shares during the period. Strategic Advocates LLC acquired a new position in Cameco during the third quarter worth approximately $28,000. Finally, Manhattan West Asset Management LLC raised its stake in Cameco by 3.2% during the third quarter. Manhattan West Asset Management LLC now owns 18,541 shares of the basic materials company’s stock worth $1,555,000 after purchasing an additional 574 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.