Cameco (NYSE:CCJ) Stock Price Down 2.8% – Time to Sell?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) were down 2.8% on Wednesday . The company traded as low as $52.81 and last traded at $52.90. Approximately 1,420,767 shares changed hands during trading, a decline of 68% from the average daily volume of 4,401,693 shares. The stock had previously closed at $54.41.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent analyst reports. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. 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 company’s stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Up 0.2 %

The firm has a 50-day moving average of $49.10 and a 200 day moving average of $48.27. 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 has a market capitalization of $23.11 billion, a price-to-earnings ratio of 283.49 and a beta of 0.89.

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 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 net margin of 4.15% and a return on equity of 3.33%. Cameco’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share. As a group, equities analysts predict that Cameco Co. will post 0.69 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is currently 47.37%.

Institutional Investors Weigh In On Cameco

A number of institutional investors have recently added to or reduced their stakes in CCJ. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter worth about $73,125,000. CIBC Asset Management Inc raised its holdings in shares of Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares in the last quarter. M&G PLC acquired a new position in Cameco in the third quarter worth approximately $66,227,000. Fred Alger Management LLC increased its holdings in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after buying an additional 839,077 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new stake in shares of Cameco during the 2nd quarter worth $32,740,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.