Formula Growth Ltd. Acquires New Shares in Cameco Corporation $CCJ

Formula Growth Ltd. acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 18,119 shares of the basic materials company’s stock, valued at approximately $1,345,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CCJ. Bison Wealth LLC boosted its holdings in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after acquiring an additional 2,975 shares during the last quarter. US Bancorp DE lifted its position in Cameco by 5.3% during the first quarter. US Bancorp DE now owns 30,247 shares of the basic materials company’s stock valued at $1,245,000 after purchasing an additional 1,519 shares during the period. Wealthspire Advisors LLC purchased a new stake in Cameco in the first quarter worth approximately $259,000. Vanguard Group Inc. raised its stake in Cameco by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company’s stock valued at $703,295,000 after buying an additional 300,088 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in Cameco by 2.3% during the 1st quarter. Deutsche Bank AG now owns 653,602 shares of the basic materials company’s stock valued at $26,902,000 after buying an additional 14,992 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

CCJ has been the topic of a number of research reports. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. The Goldman Sachs Group raised their target price on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial upped their price target on shares of Cameco to $150.00 in a research report on Wednesday, October 29th. Finally, UBS Group initiated coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.25.

Cameco Stock Performance

Shares of CCJ opened at $91.27 on Friday. The business has a 50-day simple moving average of $89.39 and a two-hundred day simple moving average of $78.91. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15. The stock has a market cap of $39.74 billion, a price-to-earnings ratio of 106.13 and a beta of 1.07.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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 company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) earnings per share. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be given a $0.24 dividend. The ex-dividend date is Monday, December 1st. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. Cameco’s dividend payout ratio (DPR) is currently 19.77%.

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.