Cameco (NYSE:CCJ) Trading Down 3.1% – Should You Sell?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price fell 3.1% during trading on Friday . The company traded as low as $77.70 and last traded at $79.43. 7,078,304 shares changed hands during trading, an increase of 44% from the average session volume of 4,905,553 shares. The stock had previously closed at $81.98.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Royal Bank Of Canada cut their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. TD Securities restated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Price Performance

The company has a 50 day moving average of $88.50 and a 200 day moving average of $75.86. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 91.30 and a beta of 0.98. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 25.0%. Cameco’s payout ratio is presently 19.77%.

Hedge Funds Weigh In On Cameco

A number of hedge funds have recently made changes to their positions in CCJ. Manchester Capital Management LLC grew its stake in shares of Cameco by 100.0% during the 1st quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after buying an additional 300 shares during the period. Financial Consulate Inc. acquired a new position in Cameco in the third quarter valued at $25,000. Dagco Inc. purchased a new stake in Cameco during the first quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in Cameco during the first quarter worth about $29,000. Finally, Trust Co. of Vermont raised its holdings in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds 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.