Empowered Funds LLC Acquires Shares of 16,071 Cameco Co. (NYSE:CCJ)

Empowered Funds LLC acquired a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,071 shares of the basic materials company’s stock, valued at approximately $768,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after buying an additional 202,157 shares during the period. William Blair Investment Management LLC raised its stake in shares of Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after acquiring an additional 265,196 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of 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 worth $192,622,000 after purchasing an additional 176,183 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of 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 worth $181,382,000 after purchasing an additional 1,386,639 shares during the period. Finally, Cibc World Market Inc. grew its stake in shares of Cameco by 3.7% in 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 purchasing an additional 117,722 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several research analyst reports. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank cut their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Glj Research restated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Trading Down 1.3 %

NYSE CCJ opened at $60.11 on Friday. The firm has a market capitalization of $26.16 billion, a PE ratio of 316.49 and a beta of 0.89. The stock’s 50 day moving average is $51.66 and its 200 day moving average is $48.69. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $60.98. 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 (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Research analysts forecast that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Cameco Company 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.