Cameco (NYSE:CCJ) Sees Large Volume Increase – Should You Buy?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) saw unusually-high trading volume on Monday . Approximately 4,285,750 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 4,118,997 shares.The stock last traded at $50.68 and had previously closed at $56.00.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Cameco currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 12.3 %

The company’s 50-day moving average price is $54.70 and its 200 day moving average price is $49.39. The stock has a market capitalization of $21.39 billion, a P/E ratio of 259.68 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. As a group, equities analysts expect that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were paid a $0.118 dividend. This represents a dividend yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 63.16%.

Institutional Investors Weigh In On Cameco

Several hedge funds and other institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc lifted 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 buying an additional 1,386,639 shares during the period. M&G PLC purchased a new stake in Cameco in the third quarter worth about $66,227,000. Segra Capital Management LLC bought a new position in Cameco during the 3rd quarter worth about $53,013,000. Fred Alger Management LLC raised its holdings 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 purchasing an additional 839,077 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after purchasing an additional 664,828 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Company Profile

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.