Cameco (NYSE:CCJ) Shares Up 4.8% – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares traded up 4.8% during mid-day trading on Tuesday . The stock traded as high as $128.15 and last traded at $125.9540. 5,063,861 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 4,869,031 shares. The stock had previously closed at $120.21.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CCJ. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. UBS Group initiated coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Finally, National Bankshares restated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $121.68.

Cameco Stock Up 4.8%

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 company has a market capitalization of $54.85 billion, a price-to-earnings ratio of 146.46 and a beta of 0.99. The firm’s 50-day simple moving average is $101.51 and its two-hundred day simple moving average is $89.63.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period last year, the firm earned ($0.01) EPS. Cameco’s revenue was down 14.7% compared to the same quarter last year. Sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The company 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 currently 19.77%.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently made changes to their positions in CCJ. Norges Bank acquired a new position in Cameco during the second quarter worth about $341,736,000. TD Asset Management Inc increased its stake in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Cameco by 41.4% during 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. Van ECK Associates Corp raised its position in shares of Cameco by 43.3% during the 3rd 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. Finally, Mizuho Markets Cayman LP purchased a new stake in Cameco in the 3rd quarter valued at approximately $128,370,000. 70.21% of the stock is currently 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.