Connor Clark & Lunn Investment Management Ltd. Acquires 672,605 Shares of Cameco Corporation $CCJ

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 26.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,230,360 shares of the basic materials company’s stock after acquiring an additional 672,605 shares during the period. Cameco makes up 0.8% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 24th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cameco were worth $240,269,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Cameco by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company’s stock valued at $703,295,000 after purchasing an additional 300,088 shares during the last quarter. Alliancebernstein L.P. raised its stake in Cameco by 39.3% during the 1st quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after buying an additional 3,959,837 shares during the last quarter. AGF Management Ltd. lifted its holdings in shares of Cameco by 19.0% during the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company’s stock valued at $166,206,000 after buying an additional 644,413 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Cameco by 15.1% in the 2nd quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock worth $287,217,000 after buying an additional 506,667 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Cameco by 20.6% in the first quarter. Ameriprise Financial Inc. now owns 3,048,732 shares of the basic materials company’s stock worth $125,533,000 after acquiring an additional 521,492 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCJ shares. Royal Bank Of Canada increased their target price on Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, August 1st. The Goldman Sachs Group increased their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. Finally, CLSA started coverage on shares of Cameco in a research note on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has an average rating of “Buy” and an average price target of $102.61.

Cameco Trading Up 2.3%

Cameco stock opened at $92.30 on Friday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $110.15. The firm has a market capitalization of $40.19 billion, a price-to-earnings ratio of 106.09 and a beta of 0.98. The firm has a 50 day moving average of $86.73 and a 200 day moving average of $73.41. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Cameco has set its FY 2025 guidance at EPS. As a group, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be paid a $0.24 dividend. This represents a yield of 25.0%. The ex-dividend date is Monday, December 1st. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is currently 13.95%.

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.