Cameco (NYSE:CCJ) Trading Up 3.7% – Time to Buy?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded up 3.7% during mid-day trading on Tuesday . The company traded as high as $127.14 and last traded at $125.7130. 4,353,716 shares traded hands during trading, a decline of 3% from the average session volume of 4,469,814 shares. The stock had previously closed at $121.26.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CCJ shares. Glj Research reaffirmed a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research note on Wednesday, December 3rd. UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target for the company. Zacks Research raised Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group boosted their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cameco currently has an average rating of “Buy” and a consensus target price of $121.68.

Cameco Price Performance

The company has a market capitalization of $54.74 billion, a price-to-earnings ratio of 146.18 and a beta of 1.01. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The company’s 50 day simple moving average is $97.06 and its 200-day simple moving average is $87.81.

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 the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the previous year, the company posted ($0.01) EPS. The business’s quarterly revenue was down 14.7% on a year-over-year basis. On average, equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

Several institutional investors have recently added to or reduced their stakes in CCJ. Financial Consulate Inc. purchased a new position in shares of Cameco during the 3rd quarter worth about $25,000. Nisa Investment Advisors LLC acquired a new position in Cameco in the fourth quarter valued at $25,000. Founders Capital Management purchased a new stake in Cameco during the fourth quarter valued at about $27,000. Strategic Advocates LLC acquired a new stake in Cameco during the third quarter worth about $28,000. Finally, Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 350 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Company Profile

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.