Geode Capital Management LLC Boosts Position in Cameco Co. (NYSE:CCJ)

Geode Capital Management LLC grew its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,911,614 shares of the basic materials company’s stock after buying an additional 177,551 shares during the quarter. Geode Capital Management LLC’s holdings in Cameco were worth $91,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Pingora Partners LLC purchased a new position in shares of Cameco during the 3rd quarter worth approximately $33,000. First Horizon Advisors Inc. raised its position in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. LRI Investments LLC lifted its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after buying an additional 234 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Up 1.9 %

CCJ opened at $52.91 on Friday. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $62.55. The business has a 50-day moving average of $55.49 and a two-hundred day moving average of $49.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 278.49 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, research analysts expect that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a $0.118 dividend. The ex-dividend date was Wednesday, November 27th. This represents a yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is presently 57.89%.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.