Cameco (NYSE:CCJ) Stock Price Down 0.4% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 0.4% during trading on Thursday . The stock traded as low as $49.55 and last traded at $51.37. Approximately 5,200,832 shares changed hands during trading, an increase of 27% from the average daily volume of 4,097,801 shares. The stock had previously closed at $51.58.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised 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 issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Cameco presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

The stock has a 50-day simple moving average of $54.75 and a 200-day simple moving average of $49.27. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 258.96 and a beta of 0.95. 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 announced 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 during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were given a dividend of $0.118 per share. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio is currently 63.16%.

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its position 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 valued at $27,000 after acquiring an additional 238 shares in the last quarter. Pingora Partners LLC acquired a new stake in shares of Cameco during the 3rd quarter valued at approximately $33,000. First Horizon Advisors Inc. raised its position in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Cameco during the 3rd quarter worth $38,000. Finally, JFS Wealth Advisors LLC grew its stake in Cameco by 130.6% during the 3rd 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 last quarter. 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.