Cameco (NYSE:CCJ) Shares Down 0.7% - What's Next?

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Cameco has a consensus rating of "Buy" and an average price target of $66.56.

Cameco Stock Performance

The company's fifty day simple moving average is $54.70 and its 200 day simple moving average is $49.23. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $21.24 billion, a price-to-earnings ratio of 256.80 and a beta of 0.95.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly 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 net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the company posted $0.24 earnings per share. The company's revenue was up 25.4% on a year-over-year basis. On average, equities research analysts expect that Cameco Co. will post 0.51 earnings per share for the current 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 given a dividend of $0.118 per share. This is a boost from Cameco's previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. Cameco's dividend payout ratio is currently 63.16%.

Hedge Funds Weigh In On Cameco

Hedge funds and other institutional investors have recently modified their holdings of the business. Choreo LLC bought a new stake in shares of Cameco during the second quarter worth about $440,000. Oppenheimer & Co. Inc. boosted its position in shares of 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. DekaBank Deutsche Girozentrale increased its holdings in shares of Cameco by 120.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 274,826 shares of the basic materials company's stock valued at $14,373,000 after acquiring an additional 150,005 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Cameco by 7.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 208,184 shares of the basic materials company's stock valued at $10,243,000 after purchasing an additional 13,588 shares in the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of Cameco by 8.4% in the 2nd quarter. WINTON GROUP Ltd now owns 24,150 shares of the basic materials company's stock worth $1,188,000 after acquiring an additional 1,868 shares during the last quarter. Institutional investors 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.