Brokerages Set Cameco Co. (NYSE:CCJ) PT at $66.56

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) have earned an average recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $66.56.

Several brokerages have issued reports on CCJ. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently modified their holdings of the stock. Glenmede Trust Co. NA grew its position in Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 191 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after buying an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC grew its holdings in shares of Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after buying an additional 210 shares during the last quarter. EdgeRock Capital LLC increased its position in shares of Cameco by 1.7% in the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after acquiring an additional 224 shares during the period. Finally, LRI Investments LLC raised its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Cameco stock opened at $59.45 on Thursday. Cameco has a fifty-two week low of $35.43 and a fifty-two week high of $60.98. The company has a market capitalization of $25.87 billion, a PE ratio of 312.89 and a beta of 0.89. The company has a 50 day moving average price of $53.36 and a 200-day moving average price of $48.94. 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 earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm 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%. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. As a group, equities analysts forecast that Cameco will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a $0.118 dividend. 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 (DPR) is currently 57.89%.

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.