Cameco (NYSE:CCJ) Trading Down 3.2% – Here’s Why

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 3.2% during mid-day trading on Tuesday . The stock traded as low as $86.74 and last traded at $86.9510. 3,885,761 shares traded hands during trading, a decline of 19% from the average session volume of 4,813,783 shares. The stock had previously closed at $89.78.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group assumed coverage on Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target on the stock. CLSA began coverage on Cameco in a research note on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective for the company. Raymond James Financial increased their target price on Cameco to $150.00 in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Price Performance

The firm has a 50-day moving average of $90.37 and a 200 day moving average of $80.54. The company has a market capitalization of $37.86 billion, a PE ratio of 101.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The business had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.Cameco’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. As a group, research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. This represents a yield of 27.0%. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Monday, December 1st. Cameco’s payout ratio is currently 19.77%.

Institutional Investors Weigh In On Cameco

Hedge funds have recently added to or reduced their stakes in the stock. Financial Consulate Inc. purchased a new position in shares of Cameco in the 3rd quarter worth $25,000. Strategic Advocates LLC bought a new position in Cameco in the third quarter valued at about $28,000. SVB Wealth LLC bought a new position in Cameco in the first quarter valued at about $29,000. Trust Co. of Vermont lifted its holdings in Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares during the period. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 182 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

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.