Confluence Investment Management LLC Grows Position in Cameco Co. (NYSE:CCJ)

Confluence Investment Management LLC boosted its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,815 shares of the basic materials company’s stock after acquiring an additional 697 shares during the period. Confluence Investment Management LLC’s holdings in Cameco were worth $1,172,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CCJ. Dantai Capital Ltd boosted its holdings in Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after acquiring an additional 17,560 shares during the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Cameco in the 3rd quarter valued at about $5,305,000. Telemark Asset Management LLC grew its holdings in shares of Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after purchasing an additional 100,000 shares during the period. Moody Lynn & Lieberson LLC acquired a new stake in Cameco during the 3rd quarter worth approximately $1,680,000. Finally, Principal Financial Group Inc. raised its holdings in Cameco by 1,138.1% in the third quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after buying an additional 245,831 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One investment 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

Shares of CCJ stock opened at $52.16 on Friday. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55. The company has a market capitalization of $22.70 billion, a PE ratio of 274.54 and a beta of 0.91. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $54.97 and a 200-day simple moving average of $49.26.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for 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 was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Cameco Co. will post 0.51 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. The ex-dividend date of this dividend was 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 (DPR) is presently 57.89%.

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.