Merrion Investment Management Co LLC Has $12.10 Million Holdings in Cameco Co. (NYSE:CCJ)

Merrion Investment Management Co LLC lessened its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,450 shares of the basic materials company’s stock after selling 250 shares during the period. Cameco comprises about 8.4% of Merrion Investment Management Co LLC’s holdings, making the stock its 2nd largest holding. Merrion Investment Management Co LLC’s holdings in Cameco were worth $12,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCJ. CIBC Asset Management Inc lifted its stake in shares of Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the last quarter. M&G PLC purchased a new position in Cameco during the 3rd quarter valued at about $66,227,000. Segra Capital Management LLC purchased a new position in Cameco during the 3rd quarter valued at about $53,013,000. Fred Alger Management LLC increased its holdings in Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after purchasing an additional 839,077 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Cameco by 44.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after purchasing an additional 664,828 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 3.2 %

CCJ stock opened at $50.14 on Thursday. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The business’s 50 day moving average price is $54.35 and its two-hundred day moving average price is $49.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 263.90 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the company posted $0.24 EPS. The firm’s revenue was up 25.4% on a year-over-year basis. As a group, analysts forecast that Cameco Co. will post 0.47 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were paid a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is presently 63.16%.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.