Cameco (TSE:CCO) Hits New 12-Month High on Analyst Upgrade

Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from C$80.00 to C$86.00. The stock traded as high as C$83.00 and last traded at C$80.60, with a volume of 210734 shares changing hands. The stock had previously closed at C$80.22.

Several other equities research analysts have also recently weighed in on the company. TD Securities boosted their target price on Cameco from C$79.00 to C$80.00 in a research note on Monday, July 22nd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group boosted their target price on Cameco from C$75.00 to C$78.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Eight Capital boosted their target price on Cameco from C$80.00 to C$90.00 in a research note on Friday, November 8th. Seven analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$82.00.

Insider Buying and Selling at Cameco

In other news, Senior Officer Brian Arthur Reilly sold 14,062 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of C$79.98, for a total value of C$1,124,678.76. Also, Senior Officer Lisa Lorene Aitken sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$75.19, for a total value of C$150,380.00. Over the last 90 days, insiders have sold 19,462 shares of company stock valued at $1,514,725. Insiders own 0.15% of the company’s stock.

Cameco Price Performance

The company has a 50-day moving average of C$67.70 and a two-hundred day moving average of C$66.31. The stock has a market capitalization of C$35.06 billion, a PE ratio of 136.61, a P/E/G ratio of 2.22 and a beta of 0.90. The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 0.22%. Cameco’s dividend payout ratio is currently 20.34%.

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.