Simplicity Wealth LLC Buys New Stake in Cameco Corporation $CCJ

Simplicity Wealth LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,273 shares of the basic materials company’s stock, valued at approximately $358,000.

A number of other institutional investors have also modified their holdings of the stock. Hager Investment Management Services LLC grew its holdings in Cameco by 0.4% during the second 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 boosted its position in Cameco by 1.2% in the 3rd quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock worth $903,000 after purchasing an additional 127 shares in the last quarter. Wealth Alliance LLC grew its stake in shares of Cameco by 1.6% during the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock worth $745,000 after purchasing an additional 154 shares during the period. Versant Capital Management Inc increased its holdings in shares of Cameco by 11.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,590 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 160 shares in the last quarter. Finally, Colonial Trust Advisors increased its holdings in shares of Cameco by 0.3% during the 2nd quarter. Colonial Trust Advisors now owns 59,753 shares of the basic materials company’s stock valued at $4,435,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 1.6%

CCJ stock opened at $123.86 on Monday. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $126.47. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $96.29 and a 200-day simple moving average of $87.45. The stock has a market capitalization of $53.94 billion, a P/E ratio of 144.02 and a beta of 1.01.

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 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 company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. Equities analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. Cameco’s dividend payout ratio (DPR) is presently 19.77%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCJ. Glj Research reissued a “buy” rating and set a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. National Bankshares restated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $121.68.

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.