Cameco Corporation $CCJ Shares Sold by Drummond Knight Asset Management Pty Ltd

Drummond Knight Asset Management Pty Ltd trimmed its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 23.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 266,669 shares of the basic materials company’s stock after selling 82,619 shares during the period. Cameco accounts for about 6.8% of Drummond Knight Asset Management Pty Ltd’s portfolio, making the stock its 9th largest position. Drummond Knight Asset Management Pty Ltd’s holdings in Cameco were worth $22,363,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC purchased a new position in shares of Cameco during the 1st quarter worth $2,131,000. TD Asset Management Inc lifted its position in Cameco by 3.7% in the second quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock valued at $158,141,000 after buying an additional 77,081 shares during the last quarter. Nwam LLC lifted its position in Cameco by 11.7% in the second quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after buying an additional 8,519 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Cameco by 74.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after buying an additional 20,947 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new position in Cameco during the second quarter worth about $281,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CCJ shares. Royal Bank Of Canada decreased their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. CLSA started coverage on Cameco in a research report on Tuesday, September 9th. They issued an “outperform” rating and a $102.00 target price on the stock. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a research report on Friday, August 29th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cameco in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Stock Up 1.8%

Shares of NYSE CCJ opened at $93.40 on Wednesday. The stock has a market cap of $40.67 billion, a P/E ratio of 108.60 and a beta of 1.07. The business’s fifty day simple moving average is $90.43 and its 200-day simple moving average is $81.80. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $110.15. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15.

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

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were issued a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. This represents a yield of 27.0%. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

Cameco Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.