Cameco (NYSE:CCJ) Shares Down 1.8% – Here’s What Happened

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price dropped 1.8% on Tuesday . The stock traded as low as $51.86 and last traded at $52.18. Approximately 572,386 shares were traded during trading, a decline of 87% from the average daily volume of 4,368,737 shares. The stock had previously closed at $53.14.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Down 1.0 %

The stock has a market capitalization of $22.90 billion, a P/E ratio of 276.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company’s 50-day moving average price is $55.51 and its 200 day moving average price is $49.26.

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

Cameco Increases Dividend

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

Hedge Funds Weigh In On Cameco

Several hedge funds have recently modified their holdings of the stock. Dantai Capital Ltd lifted its stake in Cameco by 36.9% in the 2nd quarter. Dantai Capital Ltd now owns 39,700 shares of the basic materials company’s stock worth $1,953,000 after purchasing an additional 10,700 shares in the last quarter. Riggs Asset Managment Co. Inc. purchased a new stake in shares of Cameco in the second quarter worth about $2,028,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cameco by 48.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 208,204 shares of the basic materials company’s stock valued at $10,242,000 after buying an additional 67,637 shares during the last quarter. Tobam grew its holdings in Cameco by 240.1% during the 2nd quarter. Tobam now owns 21,820 shares of the basic materials company’s stock valued at $1,074,000 after buying an additional 15,404 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Cameco by 36.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 981,575 shares of the basic materials company’s stock worth $48,293,000 after acquiring an additional 262,944 shares during 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.