Cameco Corporation $CCJ Stock Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp raised its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 2.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,078,289 shares of the basic materials company’s stock after buying an additional 28,542 shares during the period. King Luther Capital Management Corp’s holdings in Cameco were worth $93,455,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CCJ. Bank of America Corp DE bought a new stake in shares of Cameco during the second quarter worth about $735,498,000. Canada Pension Plan Investment Board bought a new position in Cameco in the 2nd quarter valued at approximately $420,346,000. Alps Advisors Inc. raised its holdings in Cameco by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 4,701,559 shares of the basic materials company’s stock valued at $407,484,000 after buying an additional 1,154,270 shares during the last quarter. BlackRock Inc. acquired a new stake in Cameco during the 2nd quarter worth approximately $381,091,000. Finally, Cibc World Market Inc. acquired a new stake in Cameco during the 2nd quarter worth approximately $354,022,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays reduced their target price on shares of Cameco from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, November 2nd. Jefferies Financial Group began coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 price target for the company. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Zacks Research upgraded shares of Cameco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Finally, Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.12.

Cameco Trading Up 1.9%

NYSE CCJ opened at $74.25 on Thursday. The business’s 50-day moving average price is $85.81 and its two-hundred day moving average price is $102.42. Cameco Corporation has a 12 month low of $66.06 and a 12 month high of $135.24. The firm has a market capitalization of $32.34 billion, a PE ratio of 112.51, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14.

Cameco Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a C$0.24 dividend. This represents a dividend yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s payout ratio is currently 25.76%.

Cameco Profile

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.