Arrow Capital Pty Ltd Takes $3.60 Million Position in Cameco Corporation $CCJ

Arrow Capital Pty Ltd acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 48,447 shares of the basic materials company’s stock, valued at approximately $3,596,000. Cameco makes up 2.7% of Arrow Capital Pty Ltd’s holdings, making the stock its 22nd largest position.

Several other large investors have also recently made changes to their positions in the company. Dagco Inc. purchased a new position in shares of Cameco in the first quarter worth about $28,000. SVB Wealth LLC purchased a new stake in shares of Cameco during the 1st quarter valued at approximately $29,000. Trust Co. of Vermont lifted its holdings in Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 350 shares during the last quarter. Hilltop National Bank purchased a new stake in Cameco in the second quarter valued at $30,000. Finally, Atticus Wealth Management LLC purchased a new stake in Cameco in the second quarter valued at $34,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

NYSE CCJ opened at $93.36 on Wednesday. The company has a fifty day moving average of $89.70 and a two-hundred day moving average of $79.61. The company has a market capitalization of $40.65 billion, a PE ratio of 108.55 and a beta of 1.07. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $110.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly 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 company had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date is 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 payout ratio is currently 19.77%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Raymond James Financial lifted their target price on shares of Cameco to $150.00 in a report on Wednesday, October 29th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cameco in a report on Monday. Royal Bank Of Canada lowered their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, President Capital raised Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco Company Profile

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.