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

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price was down 2.2% on Tuesday . The stock traded as low as $53.15 and last traded at $53.58. Approximately 897,331 shares traded hands during trading, a decline of 69% from the average daily volume of 2,896,943 shares. The stock had previously closed at $54.81.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded 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 assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Performance

The company has a market capitalization of $22.80 billion, a PE ratio of 275.70 and a beta of 0.95. The firm’s 50-day simple moving average is $54.95 and its 200-day simple moving average is $49.25. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly 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 firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’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 earnings per share. On average, research analysts predict that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.118 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 57.89%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. increased 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 position in Cameco in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its position in 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 acquiring an additional 351 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Cameco in the third quarter valued at $38,000. Finally, JFS Wealth Advisors LLC boosted its stake in Cameco by 130.6% during the third 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 during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.