1832 Asset Management L.P. Sells 81,564 Shares of Cameco Corporation $CCJ

1832 Asset Management L.P. cut its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 10.1% in the second quarter, Holdings Channel.com reports. The firm owned 727,044 shares of the basic materials company’s stock after selling 81,564 shares during the quarter. 1832 Asset Management L.P.’s holdings in Cameco were worth $53,968,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CCJ. Norges Bank bought a new stake in Cameco in the 2nd quarter valued at approximately $341,736,000. Alliancebernstein L.P. boosted its holdings in Cameco by 39.3% during the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock worth $578,226,000 after purchasing an additional 3,959,837 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Cameco by 215.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,031,332 shares of the basic materials company’s stock valued at $83,636,000 after purchasing an additional 1,387,797 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in Cameco in the 1st quarter valued at $55,513,000. Finally, Acadian Asset Management LLC lifted its position in 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 buying an additional 914,300 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several analyst reports. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. Royal Bank Of Canada decreased their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, November 13th. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Finally, UBS Group began coverage on shares of Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Stock Up 1.4%

Cameco stock opened at $89.50 on Thursday. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $110.15. The stock has a market cap of $38.97 billion, a P/E ratio of 104.07 and a beta of 1.07. The company’s 50-day moving average price is $89.10 and its two-hundred day moving average price is $78.34. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same quarter last year, the business posted ($0.01) EPS. Cameco’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be paid a $0.24 dividend. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Monday, December 1st. This represents a yield of 27.0%. Cameco’s dividend payout ratio is presently 19.77%.

Cameco 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.