Russell Investments Group Ltd. cut its stake in shares of Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) by 15.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 668,615 shares of the basic materials company’s stock after selling 123,970 shares during the quarter. Russell Investments Group Ltd. owned about 0.15% of Cameco worth $20,937,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in Cameco by 17.1% in the second quarter. Larson Financial Group LLC now owns 2,236 shares of the basic materials company’s stock valued at $70,000 after buying an additional 326 shares during the period. Colonial Trust Advisors raised its holdings in Cameco by 1.3% in the first quarter. Colonial Trust Advisors now owns 35,394 shares of the basic materials company’s stock valued at $926,000 after buying an additional 450 shares during the period. Wetherby Asset Management Inc. raised its holdings in Cameco by 2.2% in the first quarter. Wetherby Asset Management Inc. now owns 21,835 shares of the basic materials company’s stock valued at $571,000 after buying an additional 479 shares during the period. Capital Market Strategies LLC raised its holdings in Cameco by 3.5% in the first quarter. Capital Market Strategies LLC now owns 14,885 shares of the basic materials company’s stock valued at $390,000 after buying an additional 500 shares during the period. Finally, Park Place Capital Corp raised its holdings in Cameco by 5.5% in the first quarter. Park Place Capital Corp now owns 9,746 shares of the basic materials company’s stock valued at $255,000 after buying an additional 511 shares during the period. 66.57% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on CCJ shares. TheStreet upgraded shares of Cameco from a “c” rating to a “b-” rating in a research note on Tuesday, October 31st. Canaccord Genuity Group lifted their price objective on shares of Cameco from $49.50 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. TD Securities raised their price target on shares of Cameco from C$55.00 to C$70.00 and gave the stock an “action list buy” rating in a research report on Tuesday, October 3rd. Scotiabank raised their price target on shares of Cameco from C$54.00 to C$70.00 in a research report on Friday, September 29th. Finally, Cantor Fitzgerald raised shares of Cameco from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Cameco presently has an average rating of “Buy” and an average target price of $65.33.
Cameco Stock Up 1.7 %
CCJ stock opened at $45.36 on Tuesday. The company has a market capitalization of $19.68 billion, a P/E ratio of 103.09, a PEG ratio of 1.23 and a beta of 0.95. The firm has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $34.71. The company has a current ratio of 3.85, a quick ratio of 3.31 and a debt-to-equity ratio of 0.08. Cameco Co. has a twelve month low of $21.22 and a twelve month high of $45.44.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $428.65 million during the quarter. Cameco had a net margin of 11.76% and a return on equity of 4.73%. On average, equities research analysts predict that Cameco Co. will post 0.59 earnings per share for the current fiscal year.
Cameco Cuts Dividend
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.088 dividend. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 29th. Cameco’s dividend payout ratio is presently 20.45%.
Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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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