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

Investment Management Corp of Ontario trimmed its stake in 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 and Exchange Commission. The fund owned 76,189 shares of the basic materials company’s stock after selling 1,700 shares during the period. Investment Management Corp of Ontario’s holdings in Cameco were worth $3,639,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Telemark Asset Management LLC raised its position in shares of Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in shares of Cameco in the 3rd quarter worth about $1,680,000. Swiss National Bank increased its position in shares of Cameco by 0.9% during the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after purchasing an additional 11,600 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after buying an additional 2,683 shares in the last quarter. Finally, Country Club Bank bought a new stake in Cameco in the 3rd quarter worth approximately $2,093,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ stock opened at $59.39 on Wednesday. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of 312.60 and a beta of 0.91. The stock has a fifty day moving average of $53.87 and a 200 day moving average of $49.04. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $61.05. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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 analysts’ expectations of $646.83 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, research analysts expect that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. 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. This represents a dividend yield of 0.22%. Cameco’s payout ratio is currently 63.16%.

Wall Street Analyst Weigh In

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

About Cameco

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.