Cameco (NYSE:CCJ) Reaches New 12-Month High – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $116.44 and last traded at $117.6860, with a volume of 590786 shares trading hands. The stock had previously closed at $112.84.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Royal Bank Of Canada reduced their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday. Glj Research reiterated a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research report on Wednesday, December 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cameco has an average rating of “Buy” and an average price target of $121.68.

Cameco Price Performance

The company’s 50 day simple moving average is $92.81 and its 200 day simple moving average is $85.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The stock has a market cap of $50.02 billion, a P/E ratio of 133.80 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. Cameco’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. As a group, equities analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were given a $0.24 dividend. The ex-dividend date was Monday, December 1st. This represents a dividend yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is presently 19.77%.

Institutional Trading of Cameco

Hedge funds have recently bought and sold shares of the stock. Financial Consulate Inc. bought a new stake in shares of Cameco during the third quarter worth $25,000. Nisa Investment Advisors LLC bought a new stake in shares of Cameco in the fourth quarter valued at about $25,000. Founders Capital Management acquired a new position in shares of Cameco during the fourth quarter worth about $27,000. Strategic Advocates LLC bought a new position in shares of Cameco during the third quarter worth about $28,000. Finally, Trust Co. of Vermont raised its position in Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.