Paradigm Capital initiated coverage on shares of Cameco (NYSE:CCJ – Free Report) (TSE:CCO) in a report released on Monday morning,Zacks reports. The firm issued a moderate buy rating on the basic materials company’s stock.
Several other analysts have also weighed in on CCJ. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Weiss Ratings raised shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Barclays reduced their target price on Cameco from $95.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Monday, November 2nd. Truist Financial decreased their target price on shares of Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Cameco in a report on Thursday, September 3rd. They set a “buy” rating and a $138.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.12.
Check Out Our Latest Analysis on CCJ
Cameco Stock Performance
CCJ opened at $72.87 on Monday. Cameco has a 1-year low of $66.06 and a 1-year high of $135.24. The stock has a market cap of $31.74 billion, a P/E ratio of 110.42, a P/E/G ratio of 1.83 and a beta of 1.18. The stock’s 50 day simple moving average is $86.25 and its 200 day simple moving average is $102.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.55 and a quick ratio of 1.62.
Cameco Announces Dividend
The firm also recently announced an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of C$0.24 per share. This represents a yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s dividend payout ratio is 25.76%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of CCJ. Integrated Wealth Concepts LLC lifted its holdings in shares of Cameco by 0.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock valued at $1,540,000 after acquiring an additional 125 shares in the last quarter. Novem Group increased its holdings in Cameco by 5.1% in the 3rd quarter. Novem Group now owns 2,854 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 138 shares in the last quarter. Bessemer Group Inc. increased its holdings in Cameco by 9.3% in the 1st quarter. Bessemer Group Inc. now owns 1,763 shares of the basic materials company’s stock valued at $192,000 after purchasing an additional 150 shares in the last quarter. Valeo Financial Advisors LLC raised its position in Cameco by 4.9% in the second quarter. Valeo Financial Advisors LLC now owns 3,227 shares of the basic materials company’s stock valued at $329,000 after purchasing an additional 150 shares during the period. Finally, Signature Equity Partners LLC raised its position in Cameco by 55.8% in the third quarter. Signature Equity Partners LLC now owns 444 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.
Cameco Company Profile
Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.
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