Principal Financial Group Inc. Buys 245,831 Shares of Cameco Co. (NYSE:CCJ)

Principal Financial Group Inc. increased its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1,138.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,431 shares of the basic materials company’s stock after purchasing an additional 245,831 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of Cameco worth $12,774,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Cameco during the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc boosted its stake in Cameco by 58.0% during 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 purchasing an additional 1,386,639 shares during the last quarter. M&G PLC bought a new stake in shares of Cameco in the 3rd quarter worth $66,227,000. Segra Capital Management LLC purchased a new position in shares of Cameco in the third quarter worth $53,013,000. Finally, Fred Alger Management LLC raised its stake in shares of Cameco by 99.7% in the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after purchasing an additional 839,077 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Down 0.1 %

Shares of NYSE:CCJ opened at $52.49 on Friday. The stock’s 50-day simple moving average is $55.30 and its two-hundred day simple moving average is $49.26. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 276.28 and a beta of 0.91. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter last year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Analysts expect that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price 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.