Cameco (NYSE:CCJ) Stock Price Up 1.6% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) rose 1.6% on Friday . The company traded as high as $124.11 and last traded at $123.8610. Approximately 3,385,351 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 4,452,544 shares. The stock had previously closed at $121.87.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CCJ shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Glj Research reiterated a “buy” rating and set a $99.74 target price on shares of Cameco in a research note on Wednesday, December 3rd. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and an average price target of $121.68.

Cameco Price Performance

The firm has a 50 day moving average price of $95.51 and a two-hundred day moving average price of $86.90. The company has a market cap of $53.94 billion, a P/E ratio of 144.02 and a beta of 1.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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 firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. On average, analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of CCJ. Financial Consulate Inc. purchased a new stake in shares of Cameco in the 3rd quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new position in shares of Cameco in the fourth quarter worth approximately $25,000. Founders Capital Management bought a new position in shares of Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC purchased a new stake in Cameco in the third quarter valued at approximately $28,000. Finally, Trust Co. of Vermont lifted its position in Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

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.