Cameco (NYSE:CCJ) Trading Down 2.2% – Time to Sell?

Shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 2.2% during trading on Friday . The stock traded as low as $49.90 and last traded at $50.25. 891,408 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 3,541,044 shares. The stock had previously closed at $51.38.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 2.8 %

The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of 262.86 and a beta of 0.95. The firm’s 50-day moving average is $54.82 and its 200 day moving average is $49.28.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. On average, equities analysts predict that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a $0.118 dividend. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 57.89%.

Institutional Investors Weigh In On Cameco

A number of hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Cameco in the 2nd quarter worth $73,125,000. CIBC Asset Management Inc lifted its stake in shares of Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares in the last quarter. M&G PLC acquired a new position in shares of Cameco during the third quarter valued at about $66,227,000. Segra Capital Management LLC bought a new stake in shares of Cameco during the third quarter worth about $53,013,000. Finally, Fred Alger Management LLC raised its holdings in shares of Cameco by 99.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after acquiring an additional 839,077 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Company Profile

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.