Avanza Fonder AB Invests $2.29 Million in Cameco Co. (NYSE:CCJ)

Avanza Fonder AB bought a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,600 shares of the basic materials company’s stock, valued at approximately $2,292,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC increased its position in shares of Cameco by 4.7% during 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 period. CIBC Asset Management Inc lifted its holdings in Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. Bridgewater Associates LP grew its stake in shares of Cameco by 19.9% in the 3rd quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock worth $118,386,000 after purchasing an additional 410,711 shares during the last quarter. Progeny 3 Inc. lifted its stake in Cameco by 7.5% during the third quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock valued at $108,326,000 after purchasing an additional 159,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Cameco by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after buying an additional 187,512 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 4.3 %

NYSE CCJ opened at $51.62 on Friday. The firm’s 50 day moving average price is $54.53 and its two-hundred day moving average price is $49.24. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 271.69 and a beta of 0.95.

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 (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis. Equities analysts anticipate that Cameco Co. will post 0.47 EPS for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $0.118 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 63.16%.

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.