Cameco (NYSE:CCJ) Trading Down 2.6% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 2.6% during mid-day trading on Monday . The stock traded as low as $51.02 and last traded at $51.17. 1,017,582 shares were traded during trading, a decline of 77% from the average session volume of 4,397,003 shares. The stock had previously closed at $52.54.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CCJ shares. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

The company has a market cap of $23.06 billion, a PE ratio of 280.07 and a beta of 0.89. 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 stock has a fifty day moving average price of $48.82 and a 200-day moving average price of $48.23.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the company earned $0.24 EPS. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities analysts expect that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Several large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter worth approximately $73,125,000. CIBC Asset Management Inc lifted its stake 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 valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. M&G PLC bought a new stake in Cameco in the third quarter worth $66,227,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Cameco in the first quarter worth about $31,131,000. Finally, King Luther Capital Management Corp bought a new stake in shares of Cameco during the 2nd quarter worth about $32,740,000. Institutional investors own 70.21% of the company’s stock.

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.