Bowen Hanes & Co. Inc. Sells 97,200 Shares of Cameco Corporation $CCJ

Bowen Hanes & Co. Inc. lowered its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 15.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 523,475 shares of the basic materials company’s stock after selling 97,200 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Cameco were worth $38,858,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. National Bankshares reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research report on Wednesday. UBS Group started coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 target price for the company. President Capital upgraded shares of Cameco from a “neutral” rating to a “buy” rating in a research note on Monday, September 22nd. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.75.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $79.43 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The business’s fifty day moving average price is $88.52 and its two-hundred day moving average price is $76.09. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 91.30 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal 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. This represents a yield of 25.0%. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Monday, December 1st. Cameco’s dividend payout ratio (DPR) is presently 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.