Cameco (NYSE:CCJ) Stock Price Down 2.5% – Time to Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) shares dropped 2.5% during trading on Wednesday . The company traded as low as $84.29 and last traded at $84.8480. Approximately 3,510,052 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 4,808,791 shares. The stock had previously closed at $87.05.

Analyst Ratings Changes

Several research firms recently weighed in on CCJ. Royal Bank Of Canada cut their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Glj Research reaffirmed a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research note on Wednesday, December 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.25.

Cameco Price Performance

The firm has a market capitalization of $36.94 billion, a P/E ratio of 98.66 and a beta of 1.07. The company has a fifty day moving average of $90.38 and a 200 day moving average of $80.75. 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 released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. Sell-side analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were issued a $0.24 dividend. The ex-dividend date was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 27.0%. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

Institutional Trading of Cameco

A number of large investors have recently bought and sold shares of CCJ. Financial Consulate Inc. bought a new stake in Cameco in the third quarter worth approximately $25,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $28,000. Armstrong Advisory Group Inc. increased its stake in shares of Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Cameco by 1,029.4% during the 2nd 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. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.