Cameco (NYSE:CCJ) Stock Price Up 2.3% – Time to Buy?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 2.3% on Tuesday . The stock traded as high as $50.28 and last traded at $49.91. 641,142 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,448,125 shares. The stock had previously closed at $48.80.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market cap of $21.41 billion, a PE ratio of 258.96 and a beta of 0.95. The business has a fifty day moving average of $54.70 and a 200-day moving average of $49.23.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, research analysts predict that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is presently 63.16%.

Institutional Trading of Cameco

A number of large investors have recently modified their holdings of CCJ. Wolff Wiese Magana LLC purchased a new position in Cameco in the 4th quarter worth approximately $154,000. Caldwell Investment Management Ltd. bought a new position in Cameco in the fourth quarter valued at $3,227,000. Laurel Wealth Advisors LLC purchased a new stake in Cameco during the fourth quarter valued at about $72,000. Park Avenue Securities LLC boosted its holdings in shares of Cameco by 12.0% in the 4th quarter. Park Avenue Securities LLC now owns 5,573 shares of the basic materials company’s stock worth $286,000 after purchasing an additional 598 shares in the last quarter. Finally, Floyd Financial Group LLC bought a new position in shares of Cameco during the 4th quarter valued at about $922,000. 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.