Cameco (NYSE:CCJ) Trading Down 4.3% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) traded down 4.3% on Friday . The company traded as low as $88.79 and last traded at $91.58. 5,371,243 shares were traded during trading, an increase of 11% from the average session volume of 4,818,119 shares. The stock had previously closed at $95.74.

Analyst Ratings Changes

A number of brokerages have issued reports on CCJ. Glj Research reaffirmed a “buy” rating and issued a $99.74 target price on shares of Cameco in a research note on Wednesday, December 3rd. Royal Bank Of Canada dropped their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Raymond James Financial lifted their target price on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. The Goldman Sachs Group boosted their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.25.

Cameco Stock Down 4.3%

The business’s 50 day moving average price is $90.29 and its 200-day moving average price is $80.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The firm has a market capitalization of $39.87 billion, a PE ratio of 106.49 and a beta of 1.07.

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 analysts’ consensus estimates of $0.22 by ($0.17). The company had revenue of $313.74 million for 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%.The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.01) EPS. As a group, 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. Stockholders of record on Monday, December 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

Hedge Funds Weigh In On Cameco

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bison Wealth LLC increased its stake in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. Nuveen LLC acquired a new position in shares of Cameco in the first quarter valued at approximately $29,290,000. Prudential PLC increased its stake in Cameco by 10.4% during the 1st quarter. Prudential PLC now owns 18,350 shares of the basic materials company’s stock worth $755,000 after buying an additional 1,730 shares during the period. Russell Investments Group Ltd. lifted its holdings in Cameco by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 153,255 shares of the basic materials company’s stock worth $6,320,000 after buying an additional 16,153 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its holdings in Cameco by 2,696.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 24,971 shares of the basic materials company’s stock worth $1,028,000 after buying an additional 24,078 shares in the last quarter. 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.