Cameco (NYSE:CCJ) Hits New 12-Month High at $31.42

Cameco Co. (NYSE:CCJGet Rating) (TSE:CCO)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $31.42 and last traded at $30.54, with a volume of 185718 shares. The stock had previously closed at $30.31.

A number of analysts have issued reports on CCJ shares. Royal Bank of Canada raised shares of Cameco from a “sector perform” rating to an “outperform” rating in a report on Monday. StockNews.com assumed coverage on Cameco in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Canaccord Genuity Group raised their price target on Cameco from C$34.00 to C$37.00 and gave the stock a “buy” rating in a research report on Thursday, February 10th. CIBC started coverage on shares of Cameco in a research report on Wednesday, January 19th. They set an “outperform” rating for the company. Finally, BMO Capital Markets raised shares of Cameco from a “market perform” rating to an “outperform” rating and raised their target price for the company from $33.00 to $42.00 in a report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $35.89.

The stock’s 50-day moving average is $24.86 and its 200-day moving average is $23.94. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of -151.54 and a beta of 0.84. The company has a current ratio of 5.18, a quick ratio of 4.19 and a debt-to-equity ratio of 0.21.

Cameco (NYSE:CCJGet Rating) (TSE:CCO) last posted its earnings results on Wednesday, February 9th. The basic materials company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.07. Cameco had a negative net margin of 7.01% and a negative return on equity of 2.00%. The firm had revenue of $368.91 million for the quarter. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, equities research analysts anticipate that Cameco Co. will post 0.08 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.094 dividend. This is a positive change from Cameco’s previous annual dividend of $0.06. This represents a dividend yield of 0.41%. The ex-dividend date is Tuesday, November 29th. Cameco’s dividend payout ratio is currently -30.00%.

A number of hedge funds and other institutional investors have recently modified their holdings of CCJ. Norges Bank bought a new position in Cameco during the fourth quarter worth $68,182,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cameco by 26.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,424,235 shares of the basic materials company’s stock worth $271,275,000 after buying an additional 2,567,907 shares during the last quarter. Morgan Stanley raised its holdings in Cameco by 46.4% during the second quarter. Morgan Stanley now owns 6,443,319 shares of the basic materials company’s stock worth $123,582,000 after buying an additional 2,043,376 shares during the last quarter. Capital World Investors acquired a new position in Cameco during the fourth quarter worth $44,008,000. Finally, Toronto Dominion Bank raised its holdings in Cameco by 98.5% during the fourth quarter. Toronto Dominion Bank now owns 3,601,183 shares of the basic materials company’s stock worth $78,514,000 after buying an additional 1,786,663 shares during the last quarter. 58.26% of the stock is currently owned by institutional investors and hedge funds.

About Cameco (NYSE:CCJ)

Cameco Corp. engages in the provision of uranium. It operates through the following segments: Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, milling, purchase, and sale of uranium concentrate. The Fuel Services segment is involved in the refining, conversion, and fabrication of uranium concentrate and the purchase and sale of conversion services.

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