Cameco Co. (NYSE:CCJ) Given Average Rating of “Buy” by Brokerages

Cameco Co. (NYSE:CCJ) (TSE:CCO) has been given an average rating of “Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $66.56.

A number of equities research analysts have weighed in on CCJ shares. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th.

Cameco Stock Performance

NYSE:CCJ opened at $52.44 on Monday. The firm’s fifty day simple moving average is $55.51 and its 200 day simple moving average is $49.26. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco has a twelve month low of $35.43 and a twelve month high of $62.55. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 276.01 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, equities research analysts expect that Cameco will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.118 per share. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s payout ratio is currently 57.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter worth about $73,125,000. CIBC Asset Management Inc raised its holdings in shares of Cameco by 58.0% in 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 purchasing an additional 1,386,639 shares in the last quarter. M&G PLC acquired a new stake in Cameco during the third quarter valued at approximately $66,227,000. Segra Capital Management LLC bought a new stake in Cameco during the third quarter worth approximately $53,013,000. Finally, Fred Alger Management LLC grew its position in 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. Institutional investors and hedge funds 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.