Yong Rong HK Asset Management Ltd Acquires Shares of 6,000 Cameco Corporation $CCJ

Yong Rong HK Asset Management Ltd bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,000 shares of the basic materials company’s stock, valued at approximately $432,000. Cameco makes up about 0.1% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Cameco during the second quarter worth $341,736,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 914,300 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Cameco in the 2nd quarter worth about $66,781,000. Finally, Fullerton Fund Management Co Ltd. grew its position in Cameco by 3,586.0% during the second quarter. Fullerton Fund Management Co Ltd. now owns 762,380 shares of the basic materials company’s stock valued at $56,591,000 after buying an additional 741,697 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Cameco stock opened at $123.35 on Friday. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The business has a fifty day moving average price of $100.77 and a 200-day moving average price of $89.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The firm has a market capitalization of $53.71 billion, a P/E ratio of 143.43 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) 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 the consensus estimate of $531.72 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities research analysts forecast 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 given a $0.24 dividend. This represents a dividend yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. Cameco’s dividend payout ratio (DPR) is 19.77%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCJ. National Bankshares reiterated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. UBS Group initiated coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Sanford C. Bernstein increased their price target on Cameco from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average target price of $121.68.

Cameco 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.