Sowell Financial Services LLC Invests $840,000 in Cameco Corporation $CCJ

Sowell Financial Services LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the third quarter, HoldingsChannel reports. The fund acquired 10,022 shares of the basic materials company’s stock, valued at approximately $840,000.

A number of other large investors also recently bought and sold shares of the business. FSM Wealth Advisors LLC bought a new stake in Cameco during the 3rd quarter valued at $203,000. Griffin Asset Management Inc. purchased a new stake in shares of Cameco during the 3rd quarter worth $239,000. Whitaker Myers Wealth Managers LTD. bought a new stake in Cameco during the third quarter valued at about $845,000. CWM LLC grew its stake in Cameco by 35.7% in the third quarter. CWM LLC now owns 9,314 shares of the basic materials company’s stock valued at $781,000 after purchasing an additional 2,451 shares during the last quarter. Finally, Gemmer Asset Management LLC purchased a new position in Cameco in the third quarter valued at about $971,000. Institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

CCJ has been the topic of a number of recent analyst reports. UBS Group started coverage on shares of Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price target on the stock. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Raymond James Financial upped their price target on Cameco to $150.00 in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada lowered their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Trading Down 1.6%

Shares of Cameco stock opened at $91.35 on Wednesday. The firm’s 50 day simple moving average is $90.92 and its two-hundred day simple moving average is $82.74. The firm has a market capitalization of $39.77 billion, a price-to-earnings ratio of 106.22 and a beta of 1.07. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $110.15. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same period last year, the firm earned ($0.01) earnings per share. Cameco’s quarterly revenue was down 14.7% compared to the same quarter last year. Analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were issued a $0.24 dividend. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date of this dividend was Monday, December 1st. Cameco’s dividend payout ratio is currently 19.77%.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.