Public Employees Retirement System of Ohio Buys Shares of 36,976 Cameco Co. (NYSE:CCJ)

Public Employees Retirement System of Ohio acquired a new stake in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 36,976 shares of the basic materials company's stock, valued at approximately $1,768,000.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in Cameco in the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc boosted its holdings in shares of 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 buying an additional 1,386,639 shares in the last quarter. M&G PLC purchased a new position in shares of Cameco in the 3rd quarter valued at $66,227,000. Fred Alger Management LLC raised its stake in Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company's stock worth $80,249,000 after acquiring an additional 839,077 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new position in Cameco in the second quarter valued at $32,740,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CCJ shares. National Bank Financial raised Cameco to a "strong-buy" rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a research note 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 stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $66.56.

Cameco Stock Performance

Cameco stock traded up $0.98 during mid-day trading on Thursday, reaching $52.91. 3,663,456 shares of the company were exchanged, compared to its average volume of 4,398,174. The firm's 50-day simple moving average is $55.49 and its two-hundred day simple moving average is $49.33. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55. The firm has a market cap of $23.03 billion, a PE ratio of 278.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

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). The company had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco's revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. Equities analysts predict that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $0.118 per share. This is a boost from Cameco's previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date was Wednesday, November 27th. Cameco's dividend payout ratio is currently 57.89%.

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.