Cameco (NYSE:CCJ) Trading Down 3.4% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 3.4% during mid-day trading on Wednesday . The stock traded as low as $49.78 and last traded at $49.81. Approximately 1,576,805 shares changed hands during trading, a decline of 53% from the average daily volume of 3,333,627 shares. The stock had previously closed at $51.58.

Analyst Ratings Changes

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

Cameco Stock Down 4.2 %

The stock has a fifty day moving average price of $54.75 and a two-hundred day moving average price of $49.27. The company has a market cap of $21.41 billion, a price-to-earnings ratio of 258.96 and a beta of 0.95. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the firm earned $0.24 EPS. Cameco’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio is presently 57.89%.

Hedge Funds Weigh In On Cameco

Hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC boosted its stake in Cameco by 6.8% in the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Cameco by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock valued at $192,622,000 after purchasing an additional 176,183 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. Cibc World Market Inc. increased its position in Cameco by 3.7% during the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock worth $161,022,000 after purchasing an additional 117,722 shares in the last quarter. Finally, Bridgewater Associates LP lifted its stake in Cameco by 19.9% in the 3rd quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after purchasing an additional 410,711 shares during 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.