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

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $66.56.

A number of equities research analysts recently weighed in on the company. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Scotiabank decreased their price target 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.

Institutional Investors Weigh In On Cameco

Several large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Cameco during the second quarter worth approximately $73,125,000. CIBC Asset Management Inc lifted its stake in Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares during the period. M&G PLC bought a new position in shares of Cameco during the 3rd quarter worth approximately $66,227,000. Segra Capital Management LLC acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $53,013,000. Finally, Fred Alger Management LLC increased its stake in shares of Cameco by 99.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after acquiring an additional 839,077 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 1.4 %

CCJ opened at $57.81 on Thursday. The company has a market cap of $25.16 billion, a P/E ratio of 304.28 and a beta of 0.89. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $52.73 and its 200-day moving average is $48.81. Cameco has a 1-year low of $35.43 and a 1-year high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. Equities research analysts predict that Cameco will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 47.37%.

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.