Cameco (NYSE:CCJ) Stock Price Up 2.1% – Still a Buy?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares were up 2.1% on Monday . The company traded as high as $96.96 and last traded at $94.22. Approximately 4,473,760 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 4,902,917 shares. The stock had previously closed at $92.26.

Analyst Ratings Changes

A number of analysts have recently commented on CCJ shares. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Royal Bank Of Canada raised their price objective on Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. The Goldman Sachs Group lifted their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average target price of $108.04.

Cameco Trading Up 2.1%

The firm has a fifty day moving average of $86.73 and a 200 day moving average of $73.63. The firm has a market capitalization of $41.02 billion, a PE ratio of 108.30 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm’s revenue was down 14.7% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. Cameco has set its FY 2025 guidance at EPS. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a dividend of $0.24 per share. This represents a yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is 13.95%.

Hedge Funds Weigh In On Cameco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in shares of Cameco in the 1st quarter valued at approximately $2,131,000. TD Asset Management Inc grew its position in shares of Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock valued at $158,141,000 after buying an additional 77,081 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake in Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock worth $1,750,000 after acquiring an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in Cameco by 41.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock worth $1,663,000 after acquiring an additional 11,879 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Cameco by 74.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after acquiring an additional 20,947 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.