Cameco (NYSE:CCJ) Stock Price Down 7.1% After Analyst Downgrade

Cameco Corporation (NYSE:CCJ) (TSE:CCO)’s share price fell 7.1% during mid-day trading on Thursday after Royal Bank Of Canada lowered their price target on the stock from $160.00 to $150.00. Royal Bank Of Canada currently has an outperform rating on the stock. Cameco traded as low as $85.69 and last traded at $86.00. 4,683,677 shares were traded during mid-day trading, a decline of 4% from the average session volume of 4,884,464 shares. The stock had previously closed at $92.57.

A number of other analysts also recently weighed in on CCJ. Weiss Ratings reissued a “hold (c+)” rating on shares of Cameco in a research report on Wednesday, October 8th. TD Securities reissued a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. UBS Group started coverage on shares of Cameco in a research report on Monday. They issued a “neutral” rating and a $140.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. Finally, The Goldman Sachs Group lifted their target price on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.75.

Hedge Funds Weigh In On Cameco

Hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC boosted its holdings in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock worth $25,000 after buying an additional 300 shares in the last quarter. Financial Consulate Inc. acquired a new position in shares of Cameco in the 3rd quarter worth $25,000. Dagco Inc. acquired a new stake in shares of Cameco during the first quarter worth $28,000. SVB Wealth LLC acquired a new stake in shares of Cameco during the first quarter worth $29,000. Finally, Trust Co. of Vermont boosted 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 purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

The stock has a 50 day moving average of $87.72 and a two-hundred day moving average of $74.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The stock has a market cap of $37.45 billion, a PE ratio of 98.85 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. This represents a yield of 25.0%. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

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.