Parsons Capital Management Inc. RI Makes New $1.54 Million Investment in Cameco Co. (NYSE:CCJ)

Parsons Capital Management Inc. RI bought a new stake in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,929 shares of the basic materials company's stock, valued at approximately $1,538,000.

Several other hedge funds have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company's stock worth $27,000 after buying an additional 238 shares during the period. Pingora Partners LLC bought a new stake in Cameco in the third quarter valued at approximately $33,000. First Horizon Advisors Inc. boosted its stake in shares of Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 351 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Cameco in the third quarter worth approximately $38,000. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Cameco by 48.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company's stock worth $42,000 after buying an additional 267 shares during the period. 70.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised Cameco to a "strong-buy" rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cameco presently has an average rating of "Buy" and an average price target of $66.56.

Cameco Stock Performance

Shares of Cameco stock traded up $1.08 during trading hours on Tuesday, reaching $48.59. 7,242,707 shares of the stock traded hands, compared to its average volume of 5,006,252. The company has a 50 day moving average price of $54.53 and a 200 day moving average price of $49.35. Cameco Co. has a one year low of $35.43 and a one year high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $21.15 billion, a price-to-earnings ratio of 255.77 and a beta of 0.95.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data 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 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 analysts' expectations of $646.83 million. During the same quarter last year, the company earned $0.24 earnings per share. The company's revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities research analysts expect that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco's previous annual dividend of $0.09. This represents a dividend yield of 0.22%. Cameco's dividend payout ratio (DPR) is 63.16%.

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.