Cameco (NYSE:CCJ) Sets New 12-Month High – Should You Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $122.42 and last traded at $122.31, with a volume of 5491944 shares trading hands. The stock had previously closed at $115.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Glj Research reaffirmed a “buy” rating and set a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. Zacks Research upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of $121.68.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The stock’s fifty day moving average price is $94.80 and its 200-day moving average price is $86.66. The firm has a market cap of $53.26 billion, a PE ratio of 142.22 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share 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 company had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were paid a $0.24 dividend. This represents a yield of 27.0%. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is 19.77%.

Institutional Trading of Cameco

Several large investors have recently bought and sold shares of the company. Financial Consulate Inc. acquired a new position in shares of Cameco during the 3rd quarter worth $25,000. Nisa Investment Advisors LLC purchased a new position in Cameco during the fourth quarter worth $25,000. Founders Capital Management purchased a new stake in Cameco during the 4th quarter worth about $27,000. Strategic Advocates LLC acquired a new position in shares of Cameco in the third quarter valued at approximately $28,000. Finally, Trust Co. of Vermont boosted its position in Cameco by 1,029.4% during the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Cameco

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.