Drummond Knight Asset Management Pty Ltd Sells 82,619 Shares of Cameco Corporation $CCJ

Drummond Knight Asset Management Pty Ltd lessened its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 23.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,669 shares of the basic materials company’s stock after selling 82,619 shares during the quarter. Cameco accounts for about 6.8% of Drummond Knight Asset Management Pty Ltd’s portfolio, making the stock its 9th largest holding. Drummond Knight Asset Management Pty Ltd owned about 0.06% of Cameco worth $22,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. raised its position in Cameco by 110.3% during the third 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 in the last quarter. Trust Co. of Vermont grew its stake in shares of Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 350 shares during the period. Hilltop National Bank purchased a new position in shares of Cameco during the 2nd quarter valued at approximately $30,000. Atticus Wealth Management LLC acquired a new position in shares of Cameco in the 2nd quarter valued at $34,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Cameco in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of Cameco stock opened at $93.40 on Wednesday. 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 business has a 50 day simple moving average of $90.43 and a two-hundred day simple moving average of $81.80. The stock has a market capitalization of $40.67 billion, a P/E ratio of 108.60 and a beta of 1.07. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $110.15.

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

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were issued 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 19.77%.

Analysts Set New Price Targets

Several research firms recently commented on CCJ. The Goldman Sachs Group raised their price target on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. UBS Group began coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. National Bankshares restated an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Royal Bank Of Canada reduced their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Raymond James Financial raised their price objective on Cameco to $150.00 in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.25.

Cameco 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.