Cameco (NYSE:CCJ) Trading Down 2.2% - Here's What Happened

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised shares of 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $66.56.

Cameco Stock Down 4.2 %

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a market cap of $21.41 billion, a P/E ratio of 258.96 and a beta of 0.95. The business's fifty day moving average is $54.75 and its two-hundred day moving average is $49.27.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data 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 firm had revenue of $721.00 million for the quarter, compared to analysts' expectations of $646.83 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. Equities analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were issued a dividend of $0.118 per share. 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 is presently 57.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA increased its position in shares of Cameco by 2.1% during the third quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company's stock worth $437,000 after purchasing an additional 191 shares in the last quarter. S.A. Mason LLC increased its position in Cameco by 6.0% during the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company's stock valued at $175,000 after buying an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC raised its stake in Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company's stock valued at $268,000 after buying an additional 210 shares during the last quarter. EdgeRock Capital LLC boosted its holdings in Cameco by 1.7% in the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company's stock worth $654,000 after acquiring an additional 224 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock worth $27,000 after acquiring an additional 238 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

About Cameco

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.