Pinnacle Associates Ltd. reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 97.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,706 shares of the basic materials company’s stock after selling 2,171,000 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Cameco Corporation were worth $580,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Cameco Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 8,981,534 shares of the basic materials company’s stock valued at $99,426,000 after acquiring an additional 251,704 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Cameco Corporation in the first quarter valued at $72,208,000. Wellington Management Group LLP lifted its position in shares of Cameco Corporation by 1,990.6% in the first quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock valued at $69,366,000 after acquiring an additional 5,982,525 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of Cameco Corporation by 111.9% in the first quarter. Global X Management Co. LLC now owns 5,969,764 shares of the basic materials company’s stock valued at $65,891,000 after acquiring an additional 3,152,321 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Cameco Corporation by 22.3% in the second quarter. Russell Investments Group Ltd. now owns 5,850,916 shares of the basic materials company’s stock valued at $53,220,000 after acquiring an additional 1,068,516 shares in the last quarter. Institutional investors and hedge funds own 56.53% of the company’s stock.
Shares of Cameco Corporation (NYSE:CCJ) opened at 9.98 on Friday. The firm’s 50-day moving average price is $9.97 and its 200 day moving average price is $10.09. The company’s market cap is $3.95 billion. Cameco Corporation has a 52 week low of $7.41 and a 52 week high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, July 27th. The basic materials company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. Cameco Corporation had a positive return on equity of 2.59% and a negative net margin of 0.75%. The business had revenue of $470.00 million for the quarter, compared to the consensus estimate of $383.81 million. During the same period in the previous year, the business earned ($0.14) EPS. Cameco Corporation’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Cameco Corporation will post $0.17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.0799 per share. This is an increase from Cameco Corporation’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 3.20%. Cameco Corporation’s dividend payout ratio is currently -999.67%.
CCJ has been the topic of several recent research reports. Zacks Investment Research downgraded Cameco Corporation from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada initiated coverage on Cameco Corporation in a research report on Thursday, June 29th. They set an “outperform” rating and a $16.00 target price on the stock. BidaskClub upgraded Cameco Corporation from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Credit Suisse Group downgraded Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Monday, July 17th. Finally, Bank of America Corporation downgraded Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Cameco Corporation currently has a consensus rating of “Hold” and an average target price of $13.07.
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Cameco Corporation Company Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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