Cameco (TSE:CCO) Hits New 52-Week High – Still a Buy?

Shares of Cameco Co. (TSE:CCO) (NYSE:CCJ) reached a new 52-week high during trading on Monday . The stock traded as high as C$85.35 and last traded at C$85.15, with a volume of 56640 shares changing hands. The stock had previously closed at C$83.85.

Wall Street Analysts Forecast Growth

CCO has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Cameco from C$75.00 to C$90.00 in a research report on Thursday, November 21st. Raymond James boosted their target price on Cameco from C$81.00 to C$88.00 in a research report on Friday, November 22nd. Scotiabank boosted their target price on Cameco from C$80.00 to C$86.00 in a research report on Tuesday, November 19th. National Bankshares boosted their target price on Cameco from C$85.00 to C$87.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their target price on Cameco from C$78.00 to C$84.00 in a research report on Friday, November 8th. Seven analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of C$84.30.

Cameco Stock Up 0.3 %

The company has a debt-to-equity ratio of 25.39, a current ratio of 3.22 and a quick ratio of 3.74. The company has a market cap of C$36.60 billion, a price-to-earnings ratio of 142.12, a P/E/G ratio of 2.22 and a beta of 0.90. The firm’s 50 day simple moving average is C$72.51 and its 200-day simple moving average is C$67.21.

Cameco Increases Dividend

The company 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. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is currently 20.34%.

Insider Buying and Selling at Cameco

In related news, Senior Officer Ronald Liam Mooney sold 3,400 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of C$70.49, for a total transaction of C$239,666.00. Also, Senior Officer Lisa Lorene Aitken sold 1,500 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$81.17, for a total transaction of C$121,755.00. Over the last three months, insiders sold 34,362 shares of company stock valued at $2,757,122. Corporate insiders own 0.15% of the company’s stock.

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.