Cameco (TSE:CCO) Sets New 52-Week Low – Here’s Why

Cameco Co. (TSE:CCO) (NYSE:CCJ)’s share price hit a new 52-week low during trading on Thursday. The company traded as low as C$95.40 and last traded at C$96.07, with a volume of 483,955 shares. The stock had previously closed at C$100.07.

Analyst Upgrades and Downgrades

CCO has been the topic of several analyst reports. TD set a C$190.00 target price on Cameco and gave the company a “buy” rating in a research note on Thursday, September 24th. Barclays decreased their target price on Cameco from C$149.00 to C$147.00 in a research report on Thursday, July 16th. UBS Group raised Cameco from a “hold” rating to a “buy” rating and upped their price target for the company from C$163.00 to C$166.00 in a research note on Monday, July 27th. Truist Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Monday, July 13th. Finally, BMO Capital Markets set a C$150.00 price objective on shares of Cameco and gave the stock an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus target price of C$179.18.

Cameco Stock Performance

The company has a debt-to-equity ratio of 13.95, a current ratio of 2.55 and a quick ratio of 3.74. The stock’s 50 day simple moving average is C$122.59 and its two-hundred day simple moving average is C$143.11. The stock has a market cap of C$43.84 billion, a P/E ratio of 110.60, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29.

Cameco (TSE:CCO) (NYSE:CCJ) last issued its quarterly earnings data on Friday, October 30th. The company reported C($0.01) earnings per share (EPS) for the quarter. Cameco had a return on equity of 5.61% and a net margin of 11.43%. The company had revenue of C$619.06 million for the quarter.

Cameco Announces Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a yield of 24.0%. Cameco’s dividend payout ratio is presently 26.37%.

About Cameco

Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power.