Cameco (NYSE:CCJ) Stock Price Down 2.9% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) shares were down 2.9% during mid-day trading on Friday . The company traded as low as $55.47 and last traded at $55.24. Approximately 2,023,659 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 3,940,333 shares. The stock had previously closed at $56.86.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 1.9 %

The company’s 50 day moving average price is $54.57 and its 200 day moving average price is $49.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market cap of $24.28 billion, a PE ratio of 293.90 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts forecast that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is 63.16%.

Institutional Trading of Cameco

Hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings 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 worth $181,382,000 after purchasing an additional 1,386,639 shares in the last quarter. M&G PLC acquired a new stake in Cameco during the third quarter worth approximately $66,227,000. Segra Capital Management LLC acquired a new stake in Cameco during the third quarter worth approximately $53,013,000. Fred Alger Management LLC raised its holdings in Cameco by 99.7% during the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after purchasing an additional 839,077 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after purchasing an additional 664,828 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.