Janney Montgomery Scott LLC Buys 40,442 Shares of Cameco Co. (NYSE:CCJ)

Janney Montgomery Scott LLC boosted its position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 700.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,218 shares of the basic materials company's stock after purchasing an additional 40,442 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cameco were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter valued at $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cameco in the 1st quarter worth about $31,131,000. King Luther Capital Management Corp purchased a new position in Cameco in the 2nd quarter worth about $32,740,000. The Manufacturers Life Insurance Company increased its stake in Cameco by 28.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company's stock worth $97,653,000 after purchasing an additional 437,921 shares in the last quarter. Finally, Fred Alger Management LLC boosted its position in Cameco by 106.2% during the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company's stock worth $41,386,000 after acquiring an additional 433,234 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a "neutral" rating to an "overweight" rating in a research report on Wednesday, July 31st. National Bank Financial upgraded Cameco to a "strong-buy" rating in a research report on Tuesday, September 3rd. Scotiabank cut their price target on Cameco from $81.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. Finally, Glj Research reiterated a "buy" rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $66.56.

Cameco Price Performance

Shares of NYSE CCJ traded down $1.41 during mid-day trading on Wednesday, hitting $53.00. 5,119,616 shares of the stock traded hands, compared to its average volume of 4,418,504. 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 twelve month low of $35.43 and a twelve month high of $58.72. The company has a market cap of $23.06 billion, a PE ratio of 280.07 and a beta of 0.89. The firm has a 50 day simple moving average of $48.82 and a two-hundred day simple moving average of $48.23.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business's quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. As a group, equities research analysts forecast that Cameco Co. will post 0.69 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco's previous annual dividend of $0.09. Cameco's dividend payout ratio is currently 47.37%.

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.