Cameco Corporation $CCJ Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the third quarter, HoldingsChannel reports. The fund purchased 229,407 shares of the basic materials company’s stock, valued at approximately $19,883,000.

A number of other institutional investors have also modified their holdings of CCJ. HB Wealth Management LLC boosted its position in Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 107 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in Cameco by 0.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock worth $1,540,000 after acquiring an additional 125 shares during the period. QRG Capital Management Inc. grew its stake in Cameco by 4.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company’s stock worth $371,000 after acquiring an additional 134 shares during the period. Novem Group raised its holdings in Cameco by 5.1% in the 3rd quarter. Novem Group now owns 2,854 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 138 shares during the last quarter. Finally, Montag A & Associates Inc. raised its holdings in Cameco by 7.8% in the 1st quarter. Montag A & Associates Inc. now owns 1,940 shares of the basic materials company’s stock valued at $211,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CCJ. Jefferies Financial Group initiated coverage on Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 price target on the stock. Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Truist Financial dropped their target price on Cameco from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.38.

Cameco Price Performance

CCJ opened at $73.30 on Tuesday. Cameco Corporation has a 1 year low of $73.25 and a 1 year high of $135.24. The company’s 50 day simple moving average is $90.05 and its 200 day simple moving average is $104.01. The stock has a market capitalization of $31.93 billion, a PE ratio of 111.07, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. As a group, sell-side analysts expect that Cameco Corporation will post 1.08 EPS for the current year.

Cameco Announces Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be issued a C$0.24 dividend. This represents a dividend yield of 22.0%. The ex-dividend date is Monday, November 30th. Cameco’s dividend payout ratio (DPR) is 25.76%.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.