Cameco Corporation $CCJ Position Cut by Walter Public Investments Inc.

Walter Public Investments Inc. lowered its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 56.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,475 shares of the basic materials company’s stock after selling 29,876 shares during the quarter. Walter Public Investments Inc.’s holdings in Cameco were worth $2,034,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CCJ. Bank of America Corp DE purchased a new position in shares of Cameco in the 2nd quarter valued at about $735,498,000. Canada Pension Plan Investment Board acquired a new stake in shares of Cameco in the second quarter valued at about $420,346,000. Keybank National Association OH purchased a new stake in Cameco during the third quarter worth about $352,276,000. BlackRock Inc. purchased a new stake in Cameco during the second quarter worth about $381,091,000. Finally, Cibc World Market Inc. purchased a new stake in Cameco during the second quarter worth about $354,022,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 1.9%

CCJ opened at $74.25 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.62 and a current ratio of 2.55. The company has a market cap of $32.34 billion, a price-to-earnings ratio of 112.51, a PEG ratio of 1.84 and a beta of 1.18. Cameco Corporation has a one year low of $66.06 and a one year high of $135.24. The business’s fifty day moving average is $85.81 and its two-hundred day moving average is $102.42.

Cameco Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a dividend of C$0.24 per share. This represents a dividend yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s payout ratio is 25.76%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCJ shares. Truist Financial lowered their target price on shares of Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Paradigm Capital initiated coverage on shares of Cameco in a report on Monday. They issued a “moderate buy” rating for the company. Zacks Research upgraded shares of Cameco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $148.12.

Cameco Company Profile

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.