Cameco (NYSE:CCJ) Shares Down 1.6% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s stock price traded down 1.6% during trading on Tuesday . The company traded as low as $91.23 and last traded at $91.3450. 1,989,984 shares traded hands 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.

Analysts Set New Price Targets

A number of research firms have recently commented on CCJ. The Goldman Sachs Group lifted their price objective on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a report on Monday. Glj Research reaffirmed a “buy” rating and set a $99.74 price target on shares of Cameco in a research note on Wednesday, December 3rd. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Finally, President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Stock Performance

The company’s fifty day simple moving average is $90.75 and its two-hundred day simple moving average is $82.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The stock has a market capitalization of $39.77 billion, a P/E ratio of 106.22 and a beta of 1.07.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 return on equity of 8.58% and a net margin of 15.24%.The firm had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The business 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. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a yield of 27.0%. The ex-dividend date of this dividend was Monday, December 1st. Cameco’s dividend payout ratio (DPR) is currently 19.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Financial Consulate Inc. bought a new position in Cameco in the 3rd quarter valued at about $25,000. Strategic Advocates LLC bought a new stake in Cameco during the 3rd quarter worth $28,000. Armstrong Advisory Group Inc. increased its holdings in Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after buying an additional 350 shares during the period. Institutional investors own 70.21% of the company’s stock.

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.