Bedell Frazier Investment Counselling LLC purchased a new position in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,052 shares of the basic materials company's stock, valued at approximately $1,961,000.
Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in Cameco in the 2nd quarter worth about $73,125,000. CIBC Asset Management Inc raised its stake in 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 purchasing an additional 1,386,639 shares during the period. M&G PLC purchased a new position in shares of Cameco in the 3rd quarter worth about $66,227,000. King Luther Capital Management Corp acquired a new stake in Cameco during the 2nd quarter worth approximately $32,740,000. Finally, Van ECK Associates Corp lifted its position in Cameco by 48.1% during the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company's stock valued at $75,691,000 after buying an additional 515,046 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.
Cameco Stock Performance
Shares of CCJ stock traded down $1.84 on Monday, hitting $58.27. 2,419,674 shares of the stock traded hands, compared to its average volume of 4,452,891. The company has a market capitalization of $25.36 billion, a PE ratio of 316.39 and a beta of 0.89. The company's fifty day moving average is $51.66 and its 200 day moving average is $48.65. 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 Co. has a 1-year low of $35.43 and a 1-year high of $60.98.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same period last year, the firm posted $0.24 earnings per share. The company's quarterly revenue was up 25.4% on a year-over-year basis. On average, equities research analysts predict that Cameco Co. will post 0.7 earnings per share for the current fiscal year.
Cameco Increases Dividend
The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This is an increase from Cameco's previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco's payout ratio is 47.37%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a research note on Friday, October 4th. Scotiabank dropped their price target on shares of Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. Glj Research reissued a "buy" rating and issued a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial raised Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $66.56.
View Our Latest Report on CCJ
Cameco Profile
(
Free Report)
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.
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