16,071 Shares in Cameco Co. (NYSE:CCJ) Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to 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.

A number of other large investors have also bought and sold shares of CCJ. Massachusetts Financial Services Co. MA purchased a new stake in shares of Cameco during the 2nd quarter valued at approximately $73,125,000. CIBC Asset Management Inc raised its holdings in Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after acquiring an additional 1,386,639 shares during the period. M&G PLC purchased a new stake in Cameco during the 3rd quarter worth about $66,227,000. King Luther Capital Management Corp bought a new position in shares of Cameco in the second quarter valued at approximately $32,740,000. Finally, Van ECK Associates Corp lifted its stake in 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 in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $60.11 on Friday. The stock has a market capitalization of $26.16 billion, a P/E ratio of 316.49 and a beta of 0.89. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $60.98. The stock has a 50-day moving average price of $51.66 and a 200-day moving average price of $48.69.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 firm had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. Equities analysts predict that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently commented on CCJ. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report 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 stock. According to data from MarketBeat, Cameco has an average rating of “Buy” and a consensus price target 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.