Cameco (NYSE:CCJ) Trading Down 1% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares dropped 1% during trading on Wednesday . The company traded as low as $51.86 and last traded at $52.62. Approximately 1,257,148 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 4,371,821 shares. The stock had previously closed at $53.14.

Wall Street Analyst Weigh In

Several research firms have commented on CCJ. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 1.0 %

The company’s fifty day moving average is $55.56 and its 200-day moving average is $49.23. The company has a market capitalization of $22.90 billion, a PE ratio of 276.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. As a group, analysts predict that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.118 dividend. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s payout ratio is 57.89%.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Cameco by 48.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,204 shares of the basic materials company’s stock worth $10,242,000 after buying an additional 67,637 shares in the last quarter. Tobam raised its stake in shares of Cameco by 240.1% during the 2nd quarter. Tobam now owns 21,820 shares of the basic materials company’s stock worth $1,074,000 after acquiring an additional 15,404 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Cameco by 36.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 981,575 shares of the basic materials company’s stock worth $48,293,000 after purchasing an additional 262,944 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Cameco by 14.5% during the second quarter. Signaturefd LLC now owns 8,111 shares of the basic materials company’s stock worth $399,000 after buying an additional 1,029 shares during the period. Finally, Deuterium Capital Management LLC purchased a new position in shares of Cameco in the second quarter worth about $492,000. Institutional investors own 70.21% 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.