Cameco Co. (NYSE:CCJ) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. reduced its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,918 shares of the basic materials company’s stock after selling 205 shares during the period. Freedom Investment Management Inc.’s holdings in Cameco were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after purchasing an additional 187,512 shares during the last quarter. Mirabella Financial Services LLP purchased a new position in shares of Cameco during the third quarter worth $15,209,000. Canton Hathaway LLC raised its holdings in shares of Cameco by 18.0% during the third quarter. Canton Hathaway LLC now owns 9,230 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 1,410 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Cameco by 548.7% during the third quarter. Brown Brothers Harriman & Co. now owns 1,784 shares of the basic materials company’s stock worth $85,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC purchased a new position in shares of Cameco during the third quarter worth $1,961,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Glj Research reissued a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Scotiabank reduced their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a 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 given a strong buy rating to the company. According to data from MarketBeat, Cameco has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Stock Up 2.8 %

Shares of NYSE CCJ opened at $59.45 on Monday. The company’s 50-day simple moving average is $53.36 and its 200-day simple moving average is $48.93. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $60.98. The firm has a market cap of $25.87 billion, a price-to-earnings ratio of 312.91 and a beta of 0.89. 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 announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. Equities analysts predict that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. This represents a yield of 0.22%. Cameco’s payout ratio is presently 63.16%.

About Cameco

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.