Cameco (NYSE:CCJ) Stock Price Down 3.4% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 3.4% during mid-day trading on Wednesday . The company traded as low as $49.78 and last traded at $49.81. Approximately 1,576,805 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 3,333,627 shares. The stock had previously closed at $51.58.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Down 2.1 %

The firm has a 50 day moving average price of $54.89 and a 200-day moving average price of $49.25. The firm has a market cap of $21.98 billion, a price-to-earnings ratio of 265.75 and a beta of 0.95. 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 released its 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 business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities 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. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 57.89%.

Hedge Funds Weigh In On Cameco

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

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.