Cameco (NYSE:CCJ) Stock Price Down 2.9% – What’s Next?

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s share price dropped 2.9% during trading on Friday . The company traded as low as $55.47 and last traded at $55.24. Approximately 2,023,659 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 3,940,333 shares. The stock had previously closed at $56.86.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a 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. According to MarketBeat.com, Cameco presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Performance

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $24.28 billion, a price-to-earnings ratio of 293.90 and a beta of 0.95. The stock’s 50 day moving average price is $54.57 and its two-hundred day moving average price is $49.32.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, analysts forecast that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $0.118 dividend. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio is 63.16%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CCJ. Thurston Springer Miller Herd & Titak Inc. increased its position in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Pingora Partners LLC acquired a new stake in Cameco in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its position in shares of Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cameco during the third quarter worth approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Cameco by 48.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 267 shares during 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.