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

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from C$75.00 to C$90.00. The stock traded as high as C$83.00 and last traded at C$80.60, with a volume of 210734 shares traded. The stock had previously closed at C$80.22.

Other analysts have also issued research reports about the company. Canaccord Genuity Group boosted their target price on Cameco from C$75.00 to C$78.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Scotiabank raised their target price on Cameco from C$80.00 to C$86.00 in a report on Tuesday. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Eight Capital lifted their price objective on shares of Cameco from C$80.00 to C$90.00 in a report on Friday, November 8th. Finally, BMO Capital Markets boosted their price target on shares of Cameco from C$78.00 to C$84.00 in a research note on Friday, November 8th. Seven research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$83.50.

Insider Activity at Cameco

In related news, Senior Officer Sean Anthony Quinn sold 13,400 shares of Cameco stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$83.63, for a total transaction of C$1,120,642.00. Also, Senior Officer Ronald Liam Mooney sold 3,400 shares of the firm’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$70.49, for a total value of C$239,666.00. Insiders have sold 32,862 shares of company stock valued at $2,635,367 over the last quarter. 0.15% of the stock is owned by insiders.

Cameco Trading Up 5.6 %

The company has a 50 day simple moving average of C$68.26 and a 200 day simple moving average of C$66.41. The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 25.39. The stock has a market capitalization of C$37.03 billion, a PE ratio of 141.56, a P/E/G ratio of 2.22 and a beta of 0.90.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 20.34%.

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.