Cameco Co. (NYSE:CCJ) Stock Position Boosted by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,843 shares of the basic materials company’s stock after acquiring an additional 4,140 shares during the quarter. Cumberland Partners Ltd’s holdings in Cameco were worth $13,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CCJ. Vanguard Group Inc. raised its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after buying an additional 200,871 shares in the last quarter. Capital World Investors boosted its position in shares of Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after purchasing an additional 202,157 shares in the last quarter. William Blair Investment Management LLC grew its stake in shares of 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 worth $204,672,000 after purchasing an additional 265,196 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of 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 worth $192,622,000 after purchasing an additional 176,183 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on CCJ shares. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Up 1.7 %

Shares of CCJ traded up $0.86 during trading hours on Tuesday, reaching $52.94. The company’s stock had a trading volume of 713,963 shares, compared to its average volume of 4,389,875. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 274.21 and a beta of 0.89. The company has a 50 day moving average of $48.49 and a two-hundred day moving average of $48.20. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $58.72.

Cameco (NYSE:CCJ) (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 for the quarter, compared to analyst estimates of $646.83 million. During the same period last year, the business earned $0.24 EPS. The company’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, research analysts predict that Cameco Co. will post 0.83 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a $0.118 dividend. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio is presently 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.