Cameco (NYSE:CCJ) Shares Down 2.5% – Here’s Why

Cameco Corporation (NYSE:CCJ) (TSE:CCO) was down 2.5% on Wednesday . The stock traded as low as $84.29 and last traded at $84.8480. Approximately 3,510,052 shares were traded during trading, a decline of 27% from the average daily volume of 4,808,791 shares. The stock had previously closed at $87.05.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCJ. CLSA began coverage on shares of Cameco in a research report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective on the stock. The Goldman Sachs Group increased their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. President Capital raised Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. One research 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. Based on data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Stock Down 2.5%

The company has a market cap of $36.94 billion, a P/E ratio of 98.66 and a beta of 1.07. 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 stock has a fifty day moving average price of $90.38 and a two-hundred day moving average price of $80.75.

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

Cameco Increases Dividend

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

Institutional Investors Weigh In On Cameco

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