Cameco (NYSE:CCJ) Stock Price Down 1% – Here’s Why

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 1% on Wednesday . The company traded as low as $51.86 and last traded at $52.62. Approximately 1,257,148 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 4,371,821 shares. The stock had previously closed at $53.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One 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. According to MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 0.1 %

The business’s 50 day moving average is $55.41 and its 200-day moving average is $49.28. 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 company has a market cap of $22.88 billion, a PE ratio of 276.65 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.118 per share. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s payout ratio is presently 57.89%.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently added to or reduced their stakes in CCJ. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cameco by 48.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,204 shares of the basic materials company’s stock valued at $10,242,000 after buying an additional 67,637 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Cameco by 36.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 981,575 shares of the basic materials company’s stock worth $48,293,000 after purchasing an additional 262,944 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Cameco by 14.5% in the 2nd quarter. Signaturefd LLC now owns 8,111 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 1,029 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Cameco in the 2nd quarter valued at about $1,522,000. Finally, Cadinha & Co. LLC grew its stake in Cameco by 3.7% during the 2nd quarter. Cadinha & Co. LLC now owns 342,321 shares of the basic materials company’s stock worth $16,842,000 after buying an additional 12,225 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other 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.