Investment Management Corp of Ontario Sells 1,700 Shares of Cameco Co. (NYSE:CCJ)

Investment Management Corp of Ontario cut its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,189 shares of the basic materials company’s stock after selling 1,700 shares during the quarter. Investment Management Corp of Ontario’s holdings in Cameco were worth $3,639,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. LRI Investments LLC increased its holdings in shares of Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 234 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 550 shares during the period. Finally, Stone House Investment Management LLC lifted its position in Cameco by 1,360.0% in the 3rd quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 952 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

Cameco stock opened at $59.39 on Wednesday. The firm has a market capitalization of $25.85 billion, a P/E ratio of 312.60 and a beta of 0.91. Cameco Co. has a one year low of $35.43 and a one year high of $61.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The business has a fifty day moving average price of $53.87 and a 200-day moving average price of $49.04.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the business earned $0.24 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, equities research analysts forecast that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is 63.16%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CCJ shares. Glj Research restated a “buy” rating and set a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Finally, National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

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.