Cameco Co. (NYSE:CCJ) Receives $66.56 Average Price Target from Analysts

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been assigned an average rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $66.56.

CCJ has been the subject of a number of research reports. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Finally, Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th.

Cameco Trading Up 2.8 %

Cameco stock opened at $59.45 on Thursday. Cameco has a 1 year low of $35.43 and a 1 year high of $60.98. The firm’s 50 day moving average price is $53.36 and its 200-day moving average price is $48.94. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market cap of $25.87 billion, a P/E ratio of 312.89 and a beta of 0.89.

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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. On average, equities analysts predict that Cameco will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a $0.118 dividend. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCJ. Tidal Investments LLC boosted its stake in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 2,683 shares during the period. LRI Investments LLC bought a new position in shares of Cameco during the first quarter valued at approximately $26,000. Beck Bode LLC raised its holdings in shares of Cameco by 11.2% in the first quarter. Beck Bode LLC now owns 46,681 shares of the basic materials company’s stock worth $2,022,000 after buying an additional 4,689 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Cameco by 22.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 124,821 shares of the basic materials company’s stock worth $5,338,000 after acquiring an additional 22,820 shares during the last quarter. Finally, Hamilton Wealth LLC boosted its holdings in Cameco by 76.3% during the 1st quarter. Hamilton Wealth LLC now owns 8,978 shares of the basic materials company’s stock valued at $389,000 after acquiring an additional 3,886 shares during the period. 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.