Cameco (NYSE:CCJ) Shares Down 1.2% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price was down 1.2% during trading on Thursday . The company traded as low as $48.78 and last traded at $49.09. Approximately 854,953 shares were traded during trading, a decline of 74% from the average daily volume of 3,252,769 shares. The stock had previously closed at $49.67.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Performance

The company has a 50 day moving average price of $54.53 and a 200-day moving average price of $49.25. 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 company has a market cap of $22.47 billion, a P/E ratio of 271.69 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same period last year, the business earned $0.24 EPS. The company’s revenue was up 25.4% compared to the same quarter last year. On average, equities analysts expect that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings 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 buying an additional 238 shares during the period. Pingora Partners LLC acquired a new position in Cameco during the 3rd quarter worth about $33,000. First Horizon Advisors Inc. lifted its holdings in Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Cameco during the 3rd quarter worth about $38,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Cameco by 48.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

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.