Cameco Corporation $CCJ Stock Holdings Lifted by Korea Investment CORP

Korea Investment CORP grew its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 16.8% in the second quarter, Holdings Channel.com reports. The fund owned 846,132 shares of the basic materials company’s stock after buying an additional 121,829 shares during the quarter. Korea Investment CORP’s holdings in Cameco were worth $62,711,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Alliancebernstein L.P. raised its position in shares of Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the period. Canada Pension Plan Investment Board increased its stake in Cameco by 215.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock worth $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Temasek Holdings Private Ltd purchased a new position in Cameco in the 1st quarter worth about $55,513,000. Acadian Asset Management LLC raised its holdings in Cameco by 1,428.6% during the 2nd quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock worth $72,505,000 after buying an additional 914,300 shares during the period. Finally, Nuveen LLC purchased a new stake in Cameco during the first quarter valued at about $29,290,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

CCJ opened at $88.89 on Friday. The stock has a fifty day moving average price of $88.87 and a 200 day moving average price of $77.14. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $110.15. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 102.17 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results 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 firm had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm’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) earnings per share. Cameco has set its FY 2025 guidance at EPS. Analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a yield of 25.0%. Cameco’s payout ratio is 19.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CCJ shares. National Bankshares reissued an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial boosted their target price on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. TD Securities restated a “buy” rating on shares of Cameco in a report on Tuesday, August 5th. Finally, CLSA assumed coverage on Cameco in a report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average target price of $113.75.

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.