Telemark Asset Management LLC Buys 100,000 Shares of Cameco Co. (NYSE:CCJ)

Telemark Asset Management LLC raised its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 8.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,300,000 shares of the basic materials company’s stock after buying an additional 100,000 shares during the period. Cameco makes up 6.3% of Telemark Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Telemark Asset Management LLC’s holdings in Cameco were worth $62,088,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CCJ. Vanguard Group Inc. lifted its holdings in shares of Cameco by 1.3% during the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after purchasing an additional 200,871 shares during the period. UniSuper Management Pty Ltd lifted its holdings in shares of Cameco by 103.3% during the first quarter. UniSuper Management Pty Ltd now owns 6,100 shares of the basic materials company’s stock worth $264,000 after purchasing an additional 3,100 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of Cameco by 45.1% during the first quarter. 1832 Asset Management L.P. now owns 493,792 shares of the basic materials company’s stock worth $21,391,000 after purchasing an additional 153,512 shares during the period. LRI Investments LLC acquired a new position in shares of Cameco during the first quarter worth $30,000. Finally, Bank of Nova Scotia Trust Co. acquired a new position in shares of Cameco during the first quarter worth $371,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CCJ. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Trading Up 5.5 %

CCJ opened at $60.77 on Friday. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $60.98. 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 company has a market cap of $26.44 billion, a P/E ratio of 319.83 and a beta of 0.89. The company has a fifty day moving average price of $51.26 and a two-hundred day moving average price of $48.62.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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). 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 the consensus estimate of $646.83 million. During the same period last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts predict that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The firm 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. This is a boost 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 47.37%.

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.