Laurel Wealth Advisors LLC Takes Position in Cameco Co. (NYSE:CCJ)

Laurel Wealth Advisors LLC acquired a new position in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,400 shares of the basic materials company’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dantai Capital Ltd lifted its position in shares of Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares during the period. iA Global Asset Management Inc. purchased a new stake in Cameco during the third quarter worth $5,305,000. Telemark Asset Management LLC boosted its position in Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after acquiring an additional 100,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in Cameco by 1,138.1% during the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after acquiring an additional 245,831 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC purchased a new position in shares of Cameco in the 3rd quarter valued at $1,680,000. 70.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cameco has an average rating of “Buy” and a consensus price target of $66.56.

Cameco Price Performance

NYSE CCJ opened at $49.70 on Thursday. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $62.55. The firm’s fifty day simple moving average is $54.63 and its two-hundred day simple moving average is $49.24. 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 firm has a market capitalization of $21.64 billion, a P/E ratio of 261.59 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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). The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Analysts forecast that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

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

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.