Congress Asset Management Co. Has $6.49 Million Stake in Cameco Corporation $CCJ

Congress Asset Management Co. grew its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,328 shares of the basic materials company’s stock after buying an additional 7,837 shares during the period. Congress Asset Management Co.’s holdings in Cameco were worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. raised its position in shares of Cameco by 110.3% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 182 shares during the period. Trust Co. of Vermont increased its stake 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 purchasing an additional 350 shares in the last quarter. Hilltop National Bank bought a new stake in Cameco in the second quarter valued at approximately $30,000. Atticus Wealth Management LLC acquired a new stake in Cameco in the second quarter worth $34,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Cameco during the second quarter worth $35,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of Cameco stock opened at $89.90 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The firm has a market cap of $39.14 billion, a price-to-earnings ratio of 104.53 and a beta of 1.07. The stock’s 50-day moving average is $90.43 and its 200-day moving average is $81.34. Cameco Corporation has a one year low of $35.00 and a one year high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same period in the prior year, the business posted ($0.01) EPS. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Equities analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on CCJ shares. Glj Research restated a “buy” rating and issued a $99.74 price objective on shares of Cameco in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cameco in a research note on Monday, December 8th. The Goldman Sachs Group increased their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. President Capital upgraded Cameco from a “neutral” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $117.25.

About Cameco

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.