Fullerton Fund Management Co Ltd. Buys 741,697 Shares of Cameco Corporation $CCJ

Fullerton Fund Management Co Ltd. increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 3,586.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,380 shares of the basic materials company’s stock after buying an additional 741,697 shares during the period. Cameco accounts for about 2.3% of Fullerton Fund Management Co Ltd.’s portfolio, making the stock its 18th largest position. Fullerton Fund Management Co Ltd. owned 0.18% of Cameco worth $56,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC bought a new position in shares of Cameco during the 1st quarter worth $2,131,000. TD Asset Management Inc grew its holdings in Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock worth $158,141,000 after acquiring an additional 77,081 shares in the last quarter. Nwam LLC increased its position in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after purchasing an additional 8,519 shares during the period. Northwest & Ethical Investments L.P. increased its position in Cameco by 50.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after purchasing an additional 14,154 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its holdings in shares of Cameco by 74.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after purchasing an additional 20,947 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCJ has been the topic of several research reports. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Raymond James Financial boosted their price target on Cameco to $150.00 in a research report on Wednesday, October 29th. UBS Group started coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Finally, CLSA began coverage on Cameco in a research note on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Stock Performance

CCJ opened at $91.58 on Friday. The firm has a 50 day moving average of $90.29 and a two-hundred day moving average of $80.05. The firm has a market capitalization of $39.87 billion, a PE ratio of 106.49 and a beta of 1.07. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The business had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. On average, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be issued a $0.24 dividend. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. This represents a dividend yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

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.