Cameco (NYSE:CCJ) Shares Down 3% – Here’s What Happened

by · The Cerbat Gem

Cameco Corporation (NYSE:CCJ – Get Free Report) (TSE:CCO) shares dropped 3% during mid-day trading on Friday . The stock traded as low as $90.66 and last traded at $91.27. Approximately 3,232,563 shares changed hands during trading, a decline of 33% from the average daily volume of 4,839,888 shares. The stock had previously closed at $94.09.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Glj Research reissued a “buy” rating and issued a $99.74 target price on shares of Cameco in a report on Wednesday. Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial lifted their price objective on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. Royal Bank Of Canada decreased their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Finally, The Goldman Sachs Group increased their price target on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.25.

View Our Latest Research Report on CCJ

Cameco Trading Down 3.0%

The company’s 50 day moving average price is $89.27 and its two-hundred day moving average price is $78.45. The firm has a market cap of $39.74 billion, a PE ratio of 106.13 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.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued 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). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same quarter in the previous year, the company 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, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. Cameco’s dividend payout ratio (DPR) is currently 19.77%.

Hedge Funds Weigh In On Cameco

Several hedge funds have recently bought and sold shares of CCJ. Vanguard Group Inc. lifted its position 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 worth $1,493,978,000 after purchasing an additional 235,613 shares during the last quarter. Alliancebernstein L.P. increased its stake in Cameco by 39.3% in the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after buying an additional 3,959,837 shares during the period. Capital World Investors increased its stake 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 worth $1,133,147,000 after buying an additional 106,872 shares during the period. 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 valued at $1,089,080,000 after buying an additional 85,762 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in 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 valued at $524,988,000 after buying an additional 2,071,373 shares during the period. Institutional investors own 70.21% of the company’s stock.

About Cameco

(Get Free Report)

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.

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