Cameco Co. (NYSE:CCJ) Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 11.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 534,057 shares of the basic materials company’s stock after selling 68,980 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of Cameco worth $25,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCJ. Moody Lynn & Lieberson LLC acquired a new stake in shares of Cameco in the third quarter valued at $1,680,000. Tidal Investments LLC lifted its holdings in Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after acquiring an additional 2,683 shares during the last quarter. Country Club Bank bought a new position in shares of Cameco during the 3rd quarter valued at about $2,093,000. Van ECK Associates Corp grew its stake in shares of Cameco by 48.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after purchasing an additional 515,046 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Cameco in the 1st quarter worth approximately $30,000. 70.21% of the stock is owned by institutional investors.

Cameco Price Performance

NYSE CCJ opened at $53.59 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 282.05 and a beta of 0.89. The company has a 50 day simple moving average of $49.73 and a 200-day simple moving average of $48.33. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter last year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. Equities research analysts predict that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed 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. This represents a yield of 0.22%. 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. Cameco’s dividend payout ratio (DPR) is presently 57.89%.

Analysts Set New Price Targets

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

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.