Cameco (NYSE:CCJ) Shares Down 9.9% – Here’s Why

Cameco Co. (NYSE:CCJ) (TSE:CCO)’s stock price was down 9.9% during trading on Monday . The stock traded as low as $48.60 and last traded at $50.43. Approximately 6,016,573 shares changed hands during trading, an increase of 40% from the average daily volume of 4,307,677 shares. The stock had previously closed at $56.00.

Wall Street Analysts Forecast Growth

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

Cameco Price Performance

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 business has a fifty day moving average of $54.35 and a 200 day moving average of $49.32. The firm has a market cap of $21.83 billion, a P/E ratio of 263.90 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its 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 return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The business’s revenue was up 25.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

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

Institutional Trading of Cameco

Several large investors have recently modified their holdings of the stock. CIBC Asset Management Inc lifted its stake in 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 during the last quarter. M&G PLC bought a new stake in shares of Cameco in the third quarter worth $66,227,000. Segra Capital Management LLC acquired a new stake in Cameco in the third quarter valued at $53,013,000. Fred Alger Management LLC raised its position in Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after purchasing an additional 839,077 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Cameco by 44.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after buying an additional 664,828 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

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.