Cameco (NYSE:CCJ) Stock Price Down 2.3% – What’s Next?

Cameco Corporation (NYSE:CCJ) (TSE:CCO) fell 2.3% during mid-day trading on Monday . The stock traded as low as $120.29 and last traded at $121.1820. 4,785,726 shares were traded during trading, an increase of 7% from the average session volume of 4,474,384 shares. The stock had previously closed at $124.04.

Analysts Set New Price Targets

Several analysts have weighed in on CCJ shares. UBS Group started coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. Zacks Research upgraded shares of Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. The Goldman Sachs Group upped their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lowered their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. Finally, Glj Research reaffirmed a “buy” rating and issued a $99.74 price target on shares of Cameco in a research note on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $121.68.

Cameco Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company’s 50 day moving average price is $97.06 and its 200-day moving average price is $87.81. The company has a market cap of $52.77 billion, a price-to-earnings ratio of 140.91 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a dividend yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is 19.77%.

Institutional Investors Weigh In On Cameco

Several hedge funds have recently modified their holdings of CCJ. Financial Consulate Inc. purchased a new position in Cameco in the 3rd quarter worth about $25,000. Nisa Investment Advisors LLC acquired a new position in shares of Cameco in the fourth quarter worth about $25,000. Founders Capital Management purchased a new position in shares of Cameco in the fourth quarter worth approximately $27,000. Strategic Advocates LLC acquired a new stake in shares of Cameco during the third quarter valued at approximately $28,000. Finally, Trust Co. of Vermont lifted its position in shares of Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.