Cameco (NYSE:CCJ) Trading Down 0.4% - Time to Sell?

Cameco Co. (NYSE:CCJ - Get Free Report) TSE: CCO was down 0.4% during mid-day trading on Thursday . The stock traded as low as $49.55 and last traded at $51.37. Approximately 5,200,832 shares were traded during mid-day trading, an increase of 27% from the average daily volume of 4,097,801 shares. The stock had previously closed at $51.58.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $66.56.

Cameco Stock Down 0.4 %

The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 270.38 and a beta of 0.95. The business's 50-day moving average is $54.82 and its two-hundred day moving average is $49.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

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) earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, equities analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid 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 have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the 2nd quarter valued at $73,125,000. CIBC Asset Management Inc boosted its position in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company's stock worth $181,382,000 after buying an additional 1,386,639 shares during the period. M&G PLC acquired a new position in shares of Cameco during the third quarter worth about $66,227,000. Segra Capital Management LLC bought a new position in shares of Cameco during the third quarter worth about $53,013,000. Finally, Fred Alger Management LLC raised its position in Cameco by 99.7% in the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company's stock valued at $80,249,000 after buying an additional 839,077 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

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.