Cameco (NYSE:CCJ) Stock Price Down 0.8% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) dropped 0.8% during trading on Wednesday . The stock traded as low as $49.72 and last traded at $49.93. Approximately 939,041 shares changed hands during trading, a decline of 80% from the average daily volume of 4,723,176 shares. The stock had previously closed at $50.32.

Cameco Price Performance

The stock’s 50-day moving average is $53.40 and its 200 day moving average is $49.34. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The company has a market cap of $21.82 billion, a PE ratio of 263.77 and a beta of 0.94.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities analysts anticipate that Cameco Co. will post 0.47 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. Investors of record on Wednesday, November 27th were paid a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 63.16%.

Institutional Trading of Cameco

Several hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc increased its position in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares during the period. Bridgewater Associates LP raised its stake in Cameco by 19.9% during the 3rd quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after acquiring an additional 410,711 shares during the last quarter. Progeny 3 Inc. lifted its stake in shares of Cameco by 7.5% in the 3rd quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock worth $108,326,000 after acquiring an additional 159,200 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after acquiring an additional 187,512 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after purchasing an additional 664,828 shares in 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.