Gabelli Funds LLC increased its position in shares of Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 366,350 shares of the basic materials company’s stock after buying an additional 2,750 shares during the quarter. Gabelli Funds LLC owned 0.08% of Cameco worth $11,478,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CCJ. Mirae Asset Global Investments Co. Ltd. grew its position in Cameco by 37.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock worth $497,555,000 after buying an additional 4,644,453 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cameco by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 454,418 shares of the basic materials company’s stock worth $13,223,000 after buying an additional 9,757 shares in the last quarter. American Century Companies Inc. grew its position in Cameco by 6.0% during the first quarter. American Century Companies Inc. now owns 25,154 shares of the basic materials company’s stock worth $733,000 after buying an additional 1,414 shares in the last quarter. BlackRock Inc. grew its position in Cameco by 10.4% during the first quarter. BlackRock Inc. now owns 554,571 shares of the basic materials company’s stock worth $16,138,000 after buying an additional 52,341 shares in the last quarter. Finally, Aviva PLC acquired a new stake in Cameco during the first quarter worth about $819,000. 66.57% of the stock is owned by institutional investors and hedge funds.
Cameco Stock Up 1.7 %
Shares of CCJ opened at $45.36 on Tuesday. The company has a market capitalization of $19.68 billion, a P/E ratio of 103.09, a PEG ratio of 1.23 and a beta of 0.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.85 and a quick ratio of 3.31. Cameco Co. has a one year low of $21.22 and a one year high of $45.44. The business’s 50 day simple moving average is $39.73 and its 200-day simple moving average is $34.71.
Cameco Cuts Dividend
The business also recently disclosed an annual dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.088 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 29th. Cameco’s dividend payout ratio (DPR) is presently 20.45%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. TD Securities lifted their price objective on Cameco from C$55.00 to C$70.00 and gave the company an “action list buy” rating in a report on Tuesday, October 3rd. Canaccord Genuity Group lifted their price objective on Cameco from $49.50 to $56.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Cantor Fitzgerald raised Cameco from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Scotiabank lifted their price objective on Cameco from C$54.00 to C$70.00 in a report on Friday, September 29th. Finally, TheStreet raised Cameco from a “c” rating to a “b-” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of $65.33.
Cameco Company Profile
Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.
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