Penserra Capital Management LLC Sells 48,612 Shares of Cameco Co. (NYSE:CCJ)

Penserra Capital Management LLC decreased its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 54.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 41,162 shares of the basic materials company’s stock after selling 48,612 shares during the quarter. Penserra Capital Management LLC’s holdings in Cameco were worth $1,965,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC grew its holdings in Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after acquiring an additional 265,196 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in Cameco by 4.7% during the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock valued at $192,622,000 after buying an additional 176,183 shares during the period. CIBC Asset Management Inc increased its holdings in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares during the period. Cibc World Market Inc. lifted its holdings in Cameco by 3.7% during the second quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock worth $161,022,000 after buying an additional 117,722 shares during the period. Finally, National Bank of Canada FI boosted its position in Cameco by 16.9% during the 2nd quarter. National Bank of Canada FI now owns 2,634,371 shares of the basic materials company’s stock valued at $129,540,000 after acquiring an additional 381,176 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CCJ shares. National Bank Financial raised Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $66.56.

Cameco Stock Performance

CCJ opened at $58.10 on Tuesday. The firm’s 50-day moving average price is $52.01 and its 200-day moving average price is $48.69. The company has a market cap of $25.28 billion, a P/E ratio of 305.78 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. As a group, equities analysts anticipate that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is presently 47.37%.

Cameco 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.