Cameco (NYSE:CCJ) Sets New 52-Week High – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $114.45 and last traded at $111.5740, with a volume of 2046765 shares. The stock had previously closed at $105.76.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Raymond James Financial upped their target price on Cameco to $150.00 in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, Scotiabank restated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.68.

Cameco Price Performance

The firm has a market cap of $48.33 billion, a P/E ratio of 130.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The firm’s 50 day moving average is $91.53 and its 200 day moving average is $84.00.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The business had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same period in the prior year, the business posted ($0.01) EPS. Cameco’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CCJ. Vanguard Group Inc. increased its position in shares of Cameco by 1.3% during the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after acquiring an additional 235,613 shares in the last quarter. Capital World Investors lifted its position in Cameco by 0.8% in the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after acquiring an additional 106,872 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.