CIBC Asset Management Inc Increases Position in Cameco Co. (NYSE:CCJ)

CIBC Asset Management Inc increased its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 58.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,777,866 shares of the basic materials company’s stock after acquiring an additional 1,386,639 shares during the quarter. CIBC Asset Management Inc owned about 0.87% of Cameco worth $181,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCJ. S.A. Mason LLC increased its position in Cameco by 6.0% during the 3rd quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after buying an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC raised its position in shares of Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 210 shares during the last quarter. EdgeRock Capital LLC boosted its stake in Cameco by 1.7% in the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares in the last quarter. LRI Investments LLC grew its position in Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 234 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% during 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 purchasing an additional 238 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

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

Cameco Stock Up 0.2 %

Cameco stock opened at $53.11 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market capitalization of $23.11 billion, a PE ratio of 279.54 and a beta of 0.89. The business has a 50 day simple moving average of $49.10 and a 200-day simple moving average of $48.27. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last released its 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 firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the business earned $0.24 EPS. The business’s revenue was up 25.4% compared to the same quarter last year. On average, analysts anticipate that Cameco Co. will post 0.69 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $0.118 dividend. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio is 47.37%.

About Cameco

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.