Cameco Corporation (NYSE:CCJ) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Cameco Corporation (NYSE:CCJ) (TSE:CCO) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $148.12.

A number of brokerages have recently issued reports on CCJ. Truist Financial dropped their price objective on Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Zacks Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Barclays reduced their price target on Cameco from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, November 2nd. Paradigm Capital began coverage on shares of Cameco in a research note on Monday, November 9th. They issued a “moderate buy” rating for the company. Finally, Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th.

Cameco Price Performance

Shares of Cameco stock traded down $1.07 during midday trading on Friday, hitting $70.71. 3,265,589 shares of the company were exchanged, compared to its average volume of 4,041,181. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.55 and a quick ratio of 1.62. The firm has a market cap of $30.80 billion, a P/E ratio of 107.14, a PEG ratio of 1.81 and a beta of 1.18. Cameco has a 52 week low of $66.06 and a 52 week high of $135.24. The firm has a 50 day simple moving average of $84.72 and a 200-day simple moving average of $101.90.

Cameco Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a C$0.24 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 22.0%. Cameco’s dividend payout ratio (DPR) is presently 25.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Wellington Management Group LLP purchased a new position in Cameco in the 2nd quarter worth $212,908,000. Amundi grew its stake in Cameco by 13.7% during the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock valued at $304,773,000 after purchasing an additional 359,375 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in Cameco in the 1st quarter worth approximately $70,851,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Cameco by 35.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock valued at $58,187,000 after purchasing an additional 139,592 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Cameco in the second quarter worth about $735,498,000. 70.21% of the stock is owned by institutional investors.

Cameco Company Profile

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.