Cameco (NYSE:CCJ) Stock Price Down 2.2% - What's Next?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO's share price traded down 2.2% during mid-day trading on Tuesday . The company traded as low as $53.15 and last traded at $53.58. 897,331 shares traded hands during trading, a decline of 69% from the average session volume of 2,896,943 shares. The stock had previously closed at $54.81.

Wall Street Analysts Forecast Growth

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

Cameco Stock Performance

The stock has a market capitalization of $22.43 billion, a P/E ratio of 271.28 and a beta of 0.95. The stock's 50-day simple moving average is $54.95 and its 200 day simple moving average is $49.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) 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 company 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 EPS. The firm's quarterly revenue was up 25.4% on a year-over-year basis. Research analysts expect 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. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.118 per share. This represents a yield of 0.22%. This is an increase from Cameco's previous annual dividend of $0.09. The ex-dividend date was Wednesday, November 27th. Cameco's dividend payout ratio is presently 57.89%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCJ. Commonwealth Equity Services LLC boosted its holdings in Cameco by 10.9% in the second quarter. Commonwealth Equity Services LLC now owns 77,053 shares of the basic materials company's stock valued at $3,791,000 after acquiring an additional 7,547 shares during the last quarter. Candriam S.C.A. increased its position in shares of Cameco by 41.7% during the second quarter. Candriam S.C.A. now owns 8,216 shares of the basic materials company's stock worth $404,000 after buying an additional 2,416 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Cameco by 7.1% during the second quarter. Cullen Frost Bankers Inc. now owns 5,356 shares of the basic materials company's stock worth $264,000 after buying an additional 356 shares during the period. Acadian Asset Management LLC lifted its holdings in Cameco by 41.2% in the second quarter. Acadian Asset Management LLC now owns 82,200 shares of the basic materials company's stock valued at $4,041,000 after buying an additional 24,000 shares during the period. Finally, Ballentine Partners LLC boosted its position in Cameco by 24.4% during the second quarter. Ballentine Partners LLC now owns 7,856 shares of the basic materials company's stock valued at $387,000 after acquiring an additional 1,543 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

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.