BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stock Position in Cameco Co. (NYSE:CCJ)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 13.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,113,301 shares of the basic materials company’s stock after acquiring an additional 131,726 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Cameco were worth $53,171,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in Cameco during the second quarter worth $73,125,000. CIBC Asset Management Inc increased its position in shares of Cameco by 58.0% in 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 in the last quarter. M&G PLC acquired a new position in shares of Cameco during the 3rd quarter worth $66,227,000. King Luther Capital Management Corp acquired a new position in shares of Cameco during the 2nd quarter worth $32,740,000. Finally, Van ECK Associates Corp boosted its position in shares of Cameco by 48.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after buying an additional 515,046 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 5.5 %

Shares of NYSE CCJ opened at $60.77 on Friday. The firm’s 50 day moving average price is $50.86 and its 200 day moving average price is $48.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market cap of $26.44 billion, a P/E ratio of 319.83 and a beta of 0.89. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $60.98.

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

Cameco Increases Dividend

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

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent research reports. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research 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 company. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus price target of $66.56.

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.