Cameco (NYSE:CCJ) Trading Down 2.2% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price was down 2.2% during mid-day trading on Friday . The stock traded as low as $49.90 and last traded at $50.25. Approximately 891,408 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,541,044 shares. The stock had previously closed at $51.38.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Down 4.2 %

The firm has a market cap of $21.41 billion, a PE ratio of 258.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a 50-day simple moving average of $54.75 and a 200-day simple moving average of $49.26.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis. Analysts expect that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a dividend of $0.118 per share. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date was Wednesday, November 27th. Cameco’s dividend payout ratio is 63.16%.

Hedge Funds Weigh In On Cameco

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCJ. William Blair Investment Management LLC boosted its holdings in shares of Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Cameco by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock worth $192,622,000 after purchasing an additional 176,183 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Cameco by 19.9% during the 3rd quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after purchasing an additional 410,711 shares during the last quarter. Finally, Progeny 3 Inc. boosted its position in shares of Cameco by 7.5% in the 3rd quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock worth $108,326,000 after purchasing an additional 159,200 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.