Cameco (NYSE:CCJ) Trading Up 1.3% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares traded up 1.3% on Friday . The stock traded as high as $51.09 and last traded at $50.97. 770,060 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,807,242 shares. The stock had previously closed at $50.30.

Wall Street Analyst Weigh In

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

Cameco Trading Down 1.7 %

The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average price is $53.99 and its two-hundred day moving average price is $49.33. The firm has a market cap of $21.53 billion, a PE ratio of 260.80 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. As a group, sell-side analysts forecast that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares during the last quarter. M&G PLC acquired a new position in Cameco during the 3rd quarter valued at approximately $66,227,000. Segra Capital Management LLC purchased a new position in shares of Cameco in the third quarter worth $53,013,000. Fred Alger Management LLC raised its holdings in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after buying an additional 839,077 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after buying an additional 664,828 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.