Sprott Inc. raised its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 53.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,366 shares of the basic materials company’s stock after buying an additional 18,632 shares during the period. Sprott Inc.’s holdings in Cameco Corporation were worth $486,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Cameco Corporation during the first quarter worth approximately $116,000. Gulf International Bank UK Ltd boosted its position in Cameco Corporation by 2.4% in the first quarter. Gulf International Bank UK Ltd now owns 119,035 shares of the basic materials company’s stock worth $1,315,000 after buying an additional 2,800 shares during the period. Confluence Investment Management LLC boosted its position in Cameco Corporation by 39.8% in the first quarter. Confluence Investment Management LLC now owns 17,254 shares of the basic materials company’s stock worth $191,000 after buying an additional 4,915 shares during the period. Beutel Goodman & Co Ltd. boosted its position in Cameco Corporation by 34.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 23,791,112 shares of the basic materials company’s stock worth $262,895,000 after buying an additional 6,088,870 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Cameco Corporation during the first quarter worth $819,000. Hedge funds and other institutional investors own 56.65% of the company’s stock.
Cameco Corporation (NYSE:CCJ) opened at 10.17 on Wednesday. The company has a 50-day moving average of $9.70 and a 200 day moving average of $10.48. Cameco Corporation has a 12-month low of $7.41 and a 12-month high of $13.36. The stock’s market cap is $4.03 billion.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $470 million during the quarter, compared to analysts’ expectations of $383.81 million. Cameco Corporation had a positive return on equity of 2.59% and a negative net margin of 0.75%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) EPS. Equities analysts anticipate that Cameco Corporation will post $0.25 earnings per share for the current year.
The business 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 $0.0799 dividend. The ex-dividend date is Thursday, September 28th. This is a boost from Cameco Corporation’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 3.14%. Cameco Corporation’s payout ratio is currently -999.67%.
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A number of equities analysts have recently weighed in on the stock. TheStreet raised shares of Cameco Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Cameco Corporation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Cameco Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Credit Suisse Group cut shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation cut shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a research note on Friday, June 30th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $13.81.
About Cameco Corporation
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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