Cameco (NYSE:CCJ) Stock Price Down 1% – Time to Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price dropped 1% during trading on Wednesday . The stock traded as low as $51.86 and last traded at $52.62. 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 Ratings Changes

A number of research analysts have weighed in on the stock. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cameco presently has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Down 1.0 %

The business’s 50-day simple moving average is $55.56 and its two-hundred day simple moving average is $49.23. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 276.96 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities analysts forecast that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dantai Capital Ltd increased its position in shares of Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Cameco in the 3rd quarter valued at $5,305,000. Telemark Asset Management LLC grew its position in Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after purchasing an additional 100,000 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in shares of Cameco in the third quarter valued at about $1,680,000. Finally, Swiss National Bank grew its holdings in shares of Cameco by 0.9% during the third quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock worth $62,892,000 after buying an additional 11,600 shares during the last quarter. 70.21% of the stock is 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.