Cameco Corporation $CCJ Stock Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp boosted its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,078,289 shares of the basic materials company’s stock after buying an additional 28,542 shares during the period. King Luther Capital Management Corp owned approximately 0.25% of Cameco worth $93,455,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CCJ. Ritholtz Wealth Management lifted its holdings in shares of Cameco by 3.7% during the 3rd quarter. Ritholtz Wealth Management now owns 11,975 shares of the basic materials company’s stock worth $1,038,000 after acquiring an additional 429 shares during the period. NBH Bank acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $45,000. Jacobi Capital Management LLC bought a new position in Cameco in the third quarter valued at approximately $124,000. Turn8 Private Wealth Inc. increased its stake in Cameco by 5.1% in the third quarter. Turn8 Private Wealth Inc. now owns 41,120 shares of the basic materials company’s stock valued at $3,565,000 after acquiring an additional 2,010 shares during the last quarter. Finally, Keybank National Association OH bought a new position in Cameco in the third quarter valued at approximately $352,276,000. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on CCJ shares. Barclays cut their target price on Cameco from $95.00 to $89.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Jefferies Financial Group assumed coverage on Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target on the stock. Paradigm Capital initiated coverage on Cameco in a report on Monday. They set a “moderate buy” rating for the company. Finally, Zacks Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 3rd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.12.

Cameco Trading Up 1.9%

CCJ opened at $74.25 on Thursday. The company has a market cap of $32.34 billion, a P/E ratio of 112.51, a PEG ratio of 1.84 and a beta of 1.18. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $85.81 and its 200-day moving average is $102.42. Cameco Corporation has a 1-year low of $66.06 and a 1-year high of $135.24.

Cameco Dividend Announcement

The business also recently announced an annual dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of C$0.24 per share. This represents a dividend yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s payout ratio is presently 25.76%.

Cameco Company Profile

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.