Cameco (NYSE:CCJ) Trading Down 1.6% After Earnings Miss

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price fell 1.6% on Friday following a dissappointing earnings announcement. The stock traded as low as $52.44 and last traded at $52.72. 1,034,676 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,398,678 shares. The stock had previously closed at $53.58.

The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the previous year, the firm earned $0.24 EPS. Cameco’s revenue was up 25.4% compared to the same quarter last year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio is 18.60%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Cameco

Several institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in Cameco during the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 in the last quarter. First Horizon Advisors Inc. raised its stake in shares of 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 in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of 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 buying an additional 550 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after buying an additional 642 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Down 1.9 %

The firm has a market capitalization of $22.86 billion, a PE ratio of 122.19 and a beta of 0.89. The business has a 50 day moving average price of $48.27 and a 200-day moving average price of $48.18. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23.

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.