Cameco (NYSE:CCJ) Trading Down 0.7% – Should You Sell?

Cameco Co. (NYSE:CCJ) (TSE:CCO) fell 0.7% during mid-day trading on Monday . The stock traded as low as $48.18 and last traded at $48.91. 860,988 shares traded hands during trading, a decline of 76% from the average session volume of 3,545,506 shares. The stock had previously closed at $49.24.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Up 1.3 %

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 business’s 50-day moving average is $54.66 and its 200 day moving average is $49.23. The firm has a market capitalization of $21.64 billion, a P/E ratio of 261.59 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts anticipate that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid 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 was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is 63.16%.

Hedge Funds Weigh In On Cameco

Institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its position in Cameco by 21.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 29,538 shares of the basic materials company’s stock worth $1,453,000 after purchasing an additional 5,168 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cameco by 7.0% during the second quarter. Envestnet Asset Management Inc. now owns 208,184 shares of the basic materials company’s stock worth $10,243,000 after buying an additional 13,588 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Cameco in the 2nd quarter valued at about $73,125,000. Old West Investment Management LLC boosted its position in shares of Cameco by 3.4% during the 2nd quarter. Old West Investment Management LLC now owns 255,488 shares of the basic materials company’s stock valued at $12,570,000 after purchasing an additional 8,308 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Cameco during the second quarter worth approximately $801,000. 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.