CIBC Asset Management Inc increased its stake in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 58.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,777,866 shares of the basic materials company's stock after buying an additional 1,386,639 shares during the period. CIBC Asset Management Inc owned 0.87% of Cameco worth $181,382,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC bought a new position in Cameco during the third quarter worth about $1,680,000. Tidal Investments LLC boosted its holdings in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company's stock worth $868,000 after buying an additional 2,683 shares during the period. Country Club Bank bought a new position in shares of Cameco during the third quarter worth approximately $2,093,000. Van ECK Associates Corp boosted its position in shares of Cameco by 48.1% in 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 acquiring an additional 515,046 shares during the period. Finally, LRI Investments LLC acquired a new stake in Cameco in the 1st quarter worth about $30,000. Institutional investors own 70.21% of the company's stock.
Cameco Trading Up 0.4 %
NYSE CCJ traded up $0.23 on Friday, hitting $53.34. The company's stock had a trading volume of 9,301,129 shares, compared to its average volume of 4,435,979. The firm has a market cap of $23.21 billion, a PE ratio of 290.28 and a beta of 0.89. The company's 50-day moving average is $49.40 and its 200 day moving average is $48.30. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $58.72.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share 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 company had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the company posted $0.24 EPS. The company's quarterly revenue was up 25.4% on a year-over-year basis. As a group, analysts predict that Cameco Co. will post 0.69 earnings per share for the current fiscal year.
Cameco Increases Dividend
The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.118 dividend. This is a positive change from Cameco's previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco's payout ratio is presently 47.37%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on CCJ shares. Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a research note on Wednesday, July 31st. Glj Research reaffirmed a "buy" rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a "strong-buy" rating in a research report on Friday, October 4th. National Bank Financial raised Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Finally, Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $66.56.
Check Out Our Latest Report on Cameco
About Cameco
(
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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