Cameco (NYSE:CCJ) Trading Down 1.8% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price fell 1.8% on Tuesday . The company traded as low as $51.86 and last traded at $52.18. 572,386 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 4,368,737 shares. The stock had previously closed at $53.14.

Analyst Ratings Changes

A number of research analysts recently issued reports on CCJ shares. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded shares of 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The firm has a market capitalization of $22.90 billion, a PE ratio of 276.96 and a beta of 0.91. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $55.51 and its 200-day simple moving average is $49.26.

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

Cameco Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCJ. Massachusetts Financial Services Co. MA purchased a new stake in Cameco during the 2nd quarter valued at $73,125,000. CIBC Asset Management Inc increased its position in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. M&G PLC bought a new position in Cameco in the third quarter valued at about $66,227,000. Segra Capital Management LLC purchased a new position in Cameco in the third quarter worth about $53,013,000. Finally, Fred Alger Management LLC grew its stake in shares of Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after purchasing an additional 839,077 shares during the period. 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.