Cameco (NYSE:CCJ) Stock Price Down 2.2% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 2.2% during mid-day trading on Friday . The stock traded as low as $49.90 and last traded at $50.25. Approximately 891,408 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,541,044 shares. The stock had previously closed at $51.38.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market cap of $21.41 billion, a P/E ratio of 258.96 and a beta of 0.95. The firm has a 50 day moving average of $54.75 and a 200-day moving average of $49.26.

Cameco (NYSE:CCJ) (TSE:CCO) last released its 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 company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. On average, equities research analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is presently 63.16%.

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. Pingora Partners LLC bought a new stake in Cameco in the third quarter worth $33,000. First Horizon Advisors Inc. raised its stake in Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Cameco during the third quarter valued at $38,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after buying an additional 550 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.