BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 397,919 Shares of Cameco Corporation $CCJ

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 164.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 639,953 shares of the basic materials company’s stock after buying an additional 397,919 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cameco were worth $47,556,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brevan Howard Capital Management LP grew its stake in shares of Cameco by 17.6% in the second quarter. Brevan Howard Capital Management LP now owns 26,529 shares of the basic materials company’s stock valued at $1,951,000 after acquiring an additional 3,964 shares in the last quarter. Black Maple Capital Management LP bought a new stake in Cameco in the 2nd quarter valued at about $223,000. BW Gestao de Investimentos Ltda. acquired a new position in shares of Cameco during the 2nd quarter worth approximately $2,969,000. Progeny 3 Inc. grew its position in shares of Cameco by 5.4% during the 2nd quarter. Progeny 3 Inc. now owns 2,442,732 shares of the basic materials company’s stock worth $181,324,000 after purchasing an additional 124,600 shares in the last quarter. Finally, Jupiter Wealth Management LLC bought a new position in shares of Cameco during the second quarter worth approximately $454,000. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent research reports. Glj Research reiterated a “buy” rating and issued a $99.74 price target on shares of Cameco in a research note on Wednesday, December 3rd. Raymond James Financial lifted their price objective on Cameco to $150.00 in a report on Wednesday, October 29th. Scotiabank reissued an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. UBS Group initiated coverage on Cameco in a research report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, CLSA began coverage on shares of Cameco in a research report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective for the company. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.25.

Cameco Trading Down 4.3%

Shares of CCJ stock opened at $91.58 on Friday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The stock’s fifty day moving average price is $90.29 and its two-hundred day moving average price is $80.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The company has a market cap of $39.87 billion, a PE ratio of 106.49 and a beta of 1.07.

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

Cameco Increases Dividend

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