Cameco (NYSE:CCJ) Trading Down 2.8% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares fell 2.8% during trading on Wednesday . The company traded as low as $52.81 and last traded at $52.90. 1,420,767 shares changed hands during trading, a decline of 68% from the average session volume of 4,401,693 shares. The stock had previously closed at $54.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CCJ shares. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Scotiabank cut their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

The firm has a market cap of $23.11 billion, a PE ratio of 283.49 and a beta of 0.89. The stock has a 50-day moving average price of $49.10 and a 200 day moving average price of $48.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 EPS. Research analysts forecast that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. The ex-dividend date is Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco’s payout ratio is currently 47.37%.

Institutional Trading of Cameco

A number of institutional investors have recently modified their holdings of CCJ. Moody Lynn & Lieberson LLC purchased a new stake in Cameco during the third quarter worth approximately $1,680,000. Tidal Investments LLC lifted its stake in shares of Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 2,683 shares in the last quarter. Country Club Bank purchased a new stake in shares of Cameco in the third quarter worth about $2,093,000. Van ECK Associates Corp raised its holdings in shares of Cameco by 48.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after buying an additional 515,046 shares during the period. Finally, LRI Investments LLC acquired a new position in Cameco in the 1st quarter worth $30,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

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.