iA Global Asset Management Inc. Acquires New Shares in Cameco Co. (NYSE:CCJ)

iA Global Asset Management Inc. acquired a new stake in 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 SEC. The institutional investor acquired 111,080 shares of the basic materials company's stock, valued at approximately $5,305,000.

Several other large investors also recently made changes to their positions in the stock. William Blair Investment Management LLC raised its stake in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company's stock valued at $204,672,000 after acquiring an additional 265,196 shares during the period. Driehaus Capital Management LLC raised its stake in Cameco by 4.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company's stock valued at $192,622,000 after acquiring an additional 176,183 shares during the period. CIBC Asset Management Inc raised its stake in Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company's stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the period. Cibc World Market Inc. raised its stake in Cameco by 3.7% in the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company's stock valued at $161,022,000 after acquiring an additional 117,722 shares during the period. Finally, National Bank of Canada FI raised its stake in Cameco by 16.9% in the 2nd quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company's stock valued at $129,540,000 after acquiring an additional 381,176 shares during the period. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

CCJ stock traded down $0.08 during trading hours on Friday, hitting $61.06. 3,483,456 shares of the stock were exchanged, compared to its average volume of 4,285,267. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $26.57 billion, a P/E ratio of 321.39 and a beta of 0.91. The company has a 50-day simple moving average of $54.64 and a two-hundred day simple moving average of $49.20. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $62.55.

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) EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the business posted $0.24 EPS. The firm's revenue for the quarter was up 25.4% on a year-over-year basis. On average, analysts forecast that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a $0.118 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a boost from Cameco's previous annual dividend of $0.09. Cameco's dividend payout ratio (DPR) is presently 63.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CCJ shares. Scotiabank dropped 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. Glj Research restated a "buy" rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. National Bank Financial upgraded Cameco to a "strong-buy" rating in a research report on Tuesday, September 3rd. Finally, Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a research report on Friday, October 4th. One 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's stock. According to data from MarketBeat, Cameco currently has a consensus rating of "Buy" and an average price target of $66.56.

Cameco Profile

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.