Cameco Co. (NYSE:CCJ – Get Free Report) (TSE:CCO)’s share price fell 1.2% during mid-day trading on Thursday . The stock traded as low as $48.78 and last traded at $49.09. 854,953 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,252,769 shares. The stock had previously closed at $49.67.
Wall Street Analysts Forecast Growth
Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $66.56.
Get Our Latest Analysis on CCJ
Cameco Stock Performance
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share 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 analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Analysts predict that Cameco Co. will post 0.47 EPS for the current year.
Cameco Increases Dividend
The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $0.118 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 63.16%.
Hedge Funds Weigh In On Cameco
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after buying an additional 238 shares during the period. Pingora Partners LLC bought a new stake in shares of Cameco in the third quarter worth about $33,000. First Horizon Advisors Inc. raised its position in shares of Cameco by 84.2% during 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 during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Cameco during the 3rd quarter valued at about $38,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Cameco by 48.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 267 shares during the period. 70.21% of the stock is owned by institutional investors.
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.
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