PCJ Investment Counsel Ltd. Buys 2,500 Shares of Cameco Corporation $CCJ

PCJ Investment Counsel Ltd. increased its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 12.2% during the second quarter, HoldingsChannel.com reports. The fund owned 22,950 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Cameco were worth $1,707,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCJ. Manchester Capital Management LLC grew its holdings in Cameco by 100.0% during the first quarter. Manchester Capital Management LLC now owns 600 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Dagco Inc. bought a new stake in shares of Cameco during the 1st quarter worth $28,000. SVB Wealth LLC bought a new stake in shares of Cameco during the 1st quarter worth $29,000. Trust Co. of Vermont grew its stake in Cameco by 1,029.4% in the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. Finally, Hilltop National Bank bought a new position in Cameco in the 2nd quarter worth $30,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Up 2.3%

NYSE CCJ opened at $92.30 on Friday. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $110.15. The stock has a market cap of $40.19 billion, a PE ratio of 106.09 and a beta of 0.98. The firm has a 50-day simple moving average of $86.73 and a 200 day simple moving average of $73.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco Increases Dividend

The company 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 dividend of $0.24 per share. This represents a dividend yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 13.95%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCJ. UBS Group set a $102.00 target price on shares of Cameco in a research report on Tuesday, September 9th. TD Securities reiterated a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group raised their target price on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $102.61.

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.