Telemark Asset Management LLC lifted its holdings in shares of Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,300,000 shares of the basic materials company’s stock after buying an additional 100,000 shares during the period. Cameco comprises 6.3% of Telemark Asset Management LLC’s holdings, making the stock its 2nd largest position. Telemark Asset Management LLC owned approximately 0.30% of Cameco worth $62,088,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CCJ. Vanguard Group Inc. lifted its stake in Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock valued at $689,306,000 after purchasing an additional 200,871 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Cameco by 3.2% in 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 during the last quarter. William Blair Investment Management LLC lifted its stake in 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 valued at $204,672,000 after purchasing an additional 265,196 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in 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 valued at $192,622,000 after purchasing an additional 176,183 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank cut their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $66.56.
Cameco Stock Up 5.5 %
Shares of CCJ opened at $60.77 on Friday. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $60.98. The firm’s 50 day moving average is $51.26 and its 200-day moving average is $48.62. The stock has a market capitalization of $26.44 billion, a PE ratio of 319.83 and a beta of 0.89. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its earnings results 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). The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’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 posted $0.24 earnings per share. Equities research analysts forecast that Cameco Co. will post 0.7 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 $0.118 dividend. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is 47.37%.
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.
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