Cameco (NYSE:CCJ) Trading Down 1.6% – Here’s Why

by · The Cerbat Gem

Cameco Corporation (NYSE:CCJGet Free Report) (TSE:CCO) traded down 1.6% during mid-day trading on Tuesday . The stock traded as low as $91.23 and last traded at $91.3450. 1,989,984 shares were traded during mid-day trading, a decline of 58% from the average session volume of 4,737,529 shares. The stock had previously closed at $92.84.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group began coverage on shares of Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. Finally, Glj Research restated a “buy” rating and issued a $99.74 target price on shares of Cameco in a report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $117.25.

Get Our Latest Stock Analysis on CCJ

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The business’s fifty day moving average price is $90.75 and its 200-day moving average price is $82.57. The stock has a market capitalization of $39.77 billion, a price-to-earnings ratio of 106.22 and a beta of 1.07.

Cameco (NYSE:CCJGet Free Report) (TSE:CCO) last announced its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The business had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. During the same period in the previous year, the business posted ($0.01) EPS. Cameco’s revenue was down 14.7% compared to the same quarter last year. On average, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were issued a $0.24 dividend. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date was Monday, December 1st. Cameco’s dividend payout ratio is currently 19.77%.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss Life Asset Management Ltd grew its holdings in shares of Cameco by 15.9% in the third quarter. Swiss Life Asset Management Ltd now owns 68,695 shares of the basic materials company’s stock valued at $5,773,000 after acquiring an additional 9,435 shares in the last quarter. Groupama Asset Managment bought a new position in Cameco in the 3rd quarter valued at $153,000. Cantor Fitzgerald L. P. increased its position in shares of Cameco by 69.8% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 12,503 shares of the basic materials company’s stock valued at $1,049,000 after purchasing an additional 5,140 shares during the last quarter. Strategic Advocates LLC purchased a new position in shares of Cameco in the 3rd quarter worth about $28,000. Finally, Manhattan West Asset Management LLC raised its holdings in shares of Cameco by 3.2% in the 3rd quarter. Manhattan West Asset Management LLC now owns 18,541 shares of the basic materials company’s stock worth $1,555,000 after purchasing an additional 574 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Company Profile

(Get Free Report)

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

Read More