Cameco (NYSE:CCJ) Trading Down 1.1% – Should You Sell?

Shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) were down 1.1% during trading on Monday . The stock traded as low as $86.38 and last traded at $87.51. Approximately 2,259,147 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 4,871,581 shares. The stock had previously closed at $88.51.

Analysts Set New Price Targets

CCJ has been the subject of several analyst reports. The Goldman Sachs Group boosted their price target on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. CLSA began coverage on Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 price objective for the company. UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, TD Securities reiterated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.25.

Cameco Price Performance

The stock has a market cap of $38.97 billion, a PE ratio of 104.07 and a beta of 1.07. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $89.10 and its 200 day moving average is $78.34.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (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 return on equity of 8.58% and a net margin of 15.24%.Cameco’s revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) EPS. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be given a $0.24 dividend. This represents a yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. Cameco’s dividend payout ratio is 19.77%.

Institutional Investors Weigh In On Cameco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Cameco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock worth $1,493,978,000 after purchasing an additional 235,613 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after buying an additional 3,959,837 shares during the last quarter. Capital World Investors raised its stake in Cameco by 0.8% during the third quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after buying an additional 106,872 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $1,089,080,000 after buying an additional 85,762 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Cameco by 41.4% in 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 worth $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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.