Cameco (NYSE:CCJ) Stock Price Down 1.8% – Here’s What Happened

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 1.8% during trading on Tuesday . The stock traded as low as $51.86 and last traded at $52.18. Approximately 572,386 shares were traded during trading, a decline of 87% from the average daily volume of 4,368,737 shares. The stock had previously closed at $53.14.

Analysts Set New Price Targets

Several research firms have weighed in on CCJ. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock 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 stock’s 50-day simple moving average is $55.56 and its 200-day simple moving average is $49.23. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 276.96 and a beta of 0.91.

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 analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. 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. Investors of record on Wednesday, November 27th were paid 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 payout ratio is 57.89%.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its position in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. S.A. Mason LLC lifted its stake in Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock worth $175,000 after purchasing an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC increased its stake in shares of Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 210 shares during the last quarter. EdgeRock Capital LLC raised its holdings in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after buying an additional 224 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 in the last quarter. 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.