Exchange Traded Concepts LLC Raises Stock Position in Cameco Corporation $CCJ

Exchange Traded Concepts LLC boosted its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 621,891 shares of the basic materials company’s stock after purchasing an additional 107,381 shares during the period. Exchange Traded Concepts LLC owned about 0.14% of Cameco worth $52,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bison Wealth LLC lifted its holdings in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. American Century Companies Inc. raised its position in Cameco by 965.3% during the first quarter. American Century Companies Inc. now owns 454,299 shares of the basic materials company’s stock valued at $18,699,000 after acquiring an additional 411,653 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Cameco by 85.4% in the first quarter. Cresset Asset Management LLC now owns 10,679 shares of the basic materials company’s stock valued at $440,000 after acquiring an additional 4,918 shares during the period. Northern Trust Corp boosted its position in Cameco by 13.5% in the 1st quarter. Northern Trust Corp now owns 416,844 shares of the basic materials company’s stock worth $17,157,000 after purchasing an additional 49,545 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Cameco in the 1st quarter worth approximately $900,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCJ shares. The Goldman Sachs Group boosted their target price on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. National Bankshares reiterated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Raymond James Financial raised their target price on Cameco to $150.00 in a research report on Wednesday, October 29th. Glj Research reaffirmed a “buy” rating and issued a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. Finally, Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Trading Up 2.6%

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

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The firm had revenue of $313.74 million for 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%. Cameco’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.01) EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

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

Cameco Company Profile

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.