Segra Capital Management LLC Makes New $53.01 Million Investment in Cameco Co. (NYSE:CCJ)

Segra Capital Management LLC bought a new position in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,109,997 shares of the basic materials company's stock, valued at approximately $53,013,000. Cameco accounts for about 20.7% of Segra Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Segra Capital Management LLC owned approximately 0.26% of Cameco at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CCJ. Telemark Asset Management LLC raised its holdings in shares of Cameco by 8.3% in the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company's stock worth $62,088,000 after purchasing an additional 100,000 shares during the period. iA Global Asset Management Inc. bought a new stake in Cameco during the third quarter worth approximately $5,305,000. Moody Lynn & Lieberson LLC acquired a new stake in Cameco during the 3rd quarter valued at $1,680,000. Swiss National Bank increased its stake in shares of Cameco by 0.9% in the third quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company's stock worth $62,892,000 after acquiring an additional 11,600 shares during the last quarter. Finally, Country Club Bank bought a new position in shares of Cameco in the 3rd quarter valued at approximately $2,093,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ stock traded down $1.05 during mid-day trading on Tuesday, hitting $56.47. 4,394,235 shares of the stock were exchanged, compared to its average volume of 4,412,575. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock's fifty day simple moving average is $54.83 and its two-hundred day simple moving average is $49.24. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 302.81 and a beta of 0.91.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter last year, the company posted $0.24 EPS. The business's revenue for the quarter was up 25.4% compared to the same quarter last year. On average, analysts forecast that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CCJ shares. Janney Montgomery Scott raised shares of Cameco to a "strong-buy" rating in a report on Friday, October 4th. National Bank Financial upgraded Cameco to a "strong-buy" rating in a research report on Tuesday, September 3rd. 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. Finally, Glj Research reissued a "buy" rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. One 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 company. According to data from MarketBeat, Cameco has an average rating of "Buy" and a consensus target price of $66.56.

Cameco Company 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.