Cameco (NYSE:CCJ) Shares Down 0.7% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.7% during mid-day trading on Monday . The company traded as low as $48.18 and last traded at $48.91. 860,988 shares traded hands during trading, a decline of 76% from the average session volume of 3,545,506 shares. The stock had previously closed at $49.24.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment 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, the stock has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Down 1.2 %

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 $21.18 billion, a P/E ratio of 256.07 and a beta of 0.95. The business’s 50-day moving average is $54.75 and its 200 day moving average is $49.25.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. As a group, analysts anticipate that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 worth $27,000 after purchasing an additional 238 shares in the last quarter. Pingora Partners LLC acquired a new position in shares of Cameco during the third quarter worth $33,000. First Horizon Advisors Inc. lifted its stake in shares of Cameco by 84.2% in 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 during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cameco during the 3rd quarter valued at $38,000. Finally, JFS Wealth Advisors LLC grew its position 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 acquiring an additional 550 shares during the last quarter. 70.21% of the stock is currently 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.