Cameco (NYSE:CCJ) Stock Price Down 2.3% – Here’s What Happened

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price dropped 2.3% during mid-day trading on Monday . The stock traded as low as $120.29 and last traded at $121.1820. Approximately 4,785,726 shares were traded during trading, an increase of 7% from the average daily volume of 4,474,384 shares. The stock had previously closed at $124.04.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCJ. UBS Group began coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 target price for the company. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. The Goldman Sachs Group increased their target price on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada cut their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $121.68.

Cameco Trading Down 2.3%

The stock has a market cap of $52.77 billion, a P/E ratio of 140.91 and a beta of 1.01. The firm’s 50 day simple moving average is $97.06 and its two-hundred day simple moving average is $87.81. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

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

Cameco Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cameco by 1.3% during the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after acquiring an additional 235,613 shares during the period. Capital World Investors lifted its position in Cameco by 0.8% in the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after purchasing an additional 106,872 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the period. Finally, Van ECK Associates Corp grew its position in Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Company Profile

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.