Assetmark Inc. Sells 1,771 Shares of Cameco Corporation $CCJ

Assetmark Inc. reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 36.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,082 shares of the basic materials company’s stock after selling 1,771 shares during the period. Assetmark Inc.’s holdings in Cameco were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MetLife Investment Management LLC bought a new stake in Cameco during the 1st quarter worth about $2,131,000. TD Asset Management Inc grew its holdings in shares of Cameco by 3.7% in the 2nd 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 period. Northwest & Ethical Investments L.P. raised its position in shares of Cameco by 50.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock worth $1,750,000 after purchasing an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP lifted its position in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 11,879 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock worth $2,017,000 after buying an additional 20,947 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 2.3%

CCJ stock opened at $92.30 on Friday. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $110.15. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $40.19 billion, a PE ratio of 106.09 and a beta of 0.98. The stock’s 50 day moving average is $86.73 and its 200-day moving average is $73.41.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 business had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) earnings per share. Cameco has set its FY 2025 guidance at EPS. Sell-side analysts expect 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 will be paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. This represents a yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is 13.95%.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. CLSA assumed coverage on Cameco in a research report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, UBS Group set a $102.00 price objective on shares of Cameco in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cameco has an average rating of “Buy” and an average target price of $102.61.

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.