Mediolanum International Funds Ltd Acquires 21,361 Shares of Cameco Corporation $CCJ

Mediolanum International Funds Ltd grew its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 165.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,267 shares of the basic materials company’s stock after acquiring an additional 21,361 shares during the period. Mediolanum International Funds Ltd’s holdings in Cameco were worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Cameco by 2.8% during the second quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock valued at $1,304,504,000 after purchasing an additional 481,171 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after buying an additional 2,071,373 shares during the period. Norges Bank purchased a new position in shares of Cameco during the 2nd quarter valued at about $341,736,000. William Blair Investment Management LLC grew its stake in shares of Cameco by 15.1% during the 2nd quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock valued at $287,217,000 after acquiring an additional 506,667 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Cameco by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after acquiring an additional 578,393 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Glj Research restated a “buy” rating and set a $99.74 price objective on shares of Cameco in a research report on Wednesday, December 3rd. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada dropped their target price on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, National Bankshares reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average price target of $121.68.

Cameco Stock Down 2.5%

Shares of CCJ stock opened at $120.26 on Tuesday. The company’s fifty day simple moving average is $101.51 and its two-hundred day simple moving average is $89.63. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The stock has a market cap of $52.37 billion, a P/E ratio of 139.84 and a beta of 0.99. 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 issued its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This represents a dividend yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio is currently 19.77%.

Cameco Company 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.