Intact Investment Management Inc. Reduces Position in Cameco Corporation $CCJ

Intact Investment Management Inc. decreased its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,240 shares of the basic materials company’s stock after selling 43,650 shares during the quarter. Intact Investment Management Inc.’s holdings in Cameco were worth $14,373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Cameco by 3.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 120 shares during the period. Hager Investment Management Services LLC lifted its position in Cameco by 0.4% during the 2nd quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after acquiring an additional 127 shares during the period. Lee Johnson Capital Management LLC grew its stake in Cameco by 1.2% during the 3rd quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 127 shares during the last quarter. Wealth Alliance LLC increased its holdings in shares of Cameco by 1.6% in the second quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock valued at $745,000 after purchasing an additional 154 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Cameco by 11.2% in the third quarter. Versant Capital Management Inc now owns 1,590 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 160 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CCJ shares. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Sanford C. Bernstein lifted their price objective on shares of Cameco from $100.00 to $101.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group upped their price objective on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Glj Research reissued a “buy” rating and set a $99.74 target price on shares of Cameco in a report on Wednesday, December 3rd. Finally, Scotiabank restated an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus target price of $121.68.

Cameco Price Performance

Shares of NYSE CCJ opened at $123.86 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 stock has a market capitalization of $53.94 billion, a price-to-earnings ratio of 144.02 and a beta of 1.01. The firm’s 50 day simple moving average is $96.29 and its 200-day simple moving average is $87.45. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $126.47.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly 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). 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 business’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. Analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

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

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.