Cameco (NYSE:CCJ) Shares Down 7.1% Following Analyst Downgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price fell 7.1% during mid-day trading on Thursday after Royal Bank Of Canada lowered their price target on the stock from $160.00 to $150.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cameco traded as low as $85.69 and last traded at $86.00. 4,683,677 shares traded hands during trading, a decline of 4% from the average session volume of 4,884,464 shares. The stock had previously closed at $92.57.

Other research analysts also recently issued reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cameco in a research note on Wednesday, October 8th. UBS Group began coverage on shares of Cameco in a research note on Monday. They issued a “neutral” rating and a $140.00 price objective on the stock. Raymond James Financial increased their price target on shares of Cameco to $150.00 in a report on Wednesday, October 29th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Finally, The Goldman Sachs Group increased their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Cameco during the 2nd quarter valued at about $341,736,000. Alliancebernstein L.P. boosted its holdings in shares of Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after acquiring an additional 3,959,837 shares in the last quarter. TD Asset Management Inc grew its position in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Down 7.1%

The firm has a fifty day moving average price of $87.72 and a 200 day moving average price of $74.46. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The company has a market cap of $37.45 billion, a P/E ratio of 98.85 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s revenue was down 14.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a yield of 25.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

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.