Bridgewater Associates LP Increases Stake in Cameco Co. (NYSE:CCJ)

Bridgewater Associates LP raised its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 19.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,478,488 shares of the basic materials company’s stock after buying an additional 410,711 shares during the period. Bridgewater Associates LP owned approximately 0.57% of Cameco worth $118,386,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. LRI Investments LLC acquired a new stake in Cameco during the first quarter worth approximately $26,000. First Horizon Advisors Inc. lifted its position in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares during the last quarter. JFS Wealth Advisors LLC lifted its position in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after buying an additional 550 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Cameco by 68.8% in the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after buying an additional 642 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCJ. Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Scotiabank cut their price objective 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. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One investment 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 MarketBeat, Cameco has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

Shares of CCJ opened at $58.62 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $60.98. The business’s fifty day moving average price is $52.37 and its 200 day moving average price is $48.75. The stock has a market capitalization of $25.51 billion, a PE ratio of 308.54 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share 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 business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the company earned $0.24 EPS. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. Equities research analysts forecast that Cameco Co. will post 0.7 EPS for the current year.

Cameco Increases Dividend

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