Cameco Co. (NYSE:CCJ) Position Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 27.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,836 shares of the basic materials company’s stock after selling 1,854 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Cameco were worth $231,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC bought a new position in shares of Cameco during the third quarter worth about $1,680,000. Tidal Investments LLC increased its stake in shares of Cameco by 15.5% in the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 2,683 shares during the period. Country Club Bank acquired a new stake in Cameco in the 3rd quarter valued at approximately $2,093,000. LRI Investments LLC bought a new stake in shares of Cameco during the first quarter valued at about $30,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Cameco in the 1st quarter worth approximately $295,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Trading Down 0.8 %

Shares of CCJ opened at $52.10 on Tuesday. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $22.67 billion, a P/E ratio of 273.58 and a beta of 0.89. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $58.72. The business’s 50-day moving average price is $48.27 and its 200 day moving average price is $48.18.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. Analysts expect that Cameco Co. will post 0.83 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be paid a $0.118 dividend. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is 57.89%.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent analyst reports. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald raised 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 for the company in a report on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. One investment 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 stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and an average 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.