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

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) traded down 2.2% during mid-day trading on Tuesday . The stock traded as low as $53.15 and last traded at $53.58. 897,331 shares were traded during mid-day trading, a decline of 69% from the average session volume of 2,896,943 shares. The stock had previously closed at $54.81.

Analyst Upgrades and Downgrades

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

Cameco Trading Down 0.4 %

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 capitalization of $22.36 billion, a price-to-earnings ratio of 270.38 and a beta of 0.95. The business’s 50 day moving average price is $54.84 and its 200-day moving average price is $49.26.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities analysts forecast that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is 57.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCJ. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Cameco during the 4th quarter worth approximately $206,000. Capital Market Strategies LLC raised its holdings in Cameco by 5.3% during the fourth quarter. Capital Market Strategies LLC now owns 19,383 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 980 shares during the last quarter. Confluence Investment Management LLC boosted its position in Cameco by 3.2% during the fourth quarter. Confluence Investment Management LLC now owns 22,815 shares of the basic materials company’s stock worth $1,172,000 after purchasing an additional 697 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Cameco by 1,138.1% in the third quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after purchasing an additional 245,831 shares during the last quarter. Finally, Dantai Capital Ltd increased its position in shares of Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

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.