Skandinaviska Enskilda Banken AB publ Cuts Stake in Cameco Corporation (CCJ)
Skandinaviska Enskilda Banken AB publ decreased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 34.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 36,900 shares of the basic materials company’s stock after selling 19,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Cameco Corporation were worth $408,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Cameco Corporation during the first quarter worth about $113,000. Janney Montgomery Scott LLC acquired a new position in shares of Cameco Corporation during the first quarter worth about $116,000. Bank of The West acquired a new position in shares of Cameco Corporation during the first quarter worth about $116,000. Brookstone Capital Management acquired a new position in shares of Cameco Corporation during the first quarter worth about $116,000. Finally, Usca Ria LLC acquired a new position in shares of Cameco Corporation during the first quarter worth about $124,000. 56.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cameco Corporation (NYSE:CCJ) traded up 0.20% during midday trading on Tuesday, hitting $10.17. 2,060,921 shares of the company’s stock traded hands. The firm’s market capitalization is $4.03 billion. The company has a 50 day moving average price of $9.70 and a 200 day moving average price of $10.48. Cameco Corporation has a 1-year low of $7.41 and a 1-year high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03. The firm had revenue of $470 million for the quarter, compared to analyst estimates of $383.81 million. Cameco Corporation had a negative net margin of 0.75% and a positive return on equity of 2.59%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.14) earnings per share. Equities analysts anticipate that Cameco Corporation will post $0.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.0799 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.14%. This is a positive change from Cameco Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 28th. Cameco Corporation’s dividend payout ratio is presently -999.67%.
CCJ has been the topic of a number of recent research reports. Credit Suisse Group reissued a “neutral” rating on shares of Cameco Corporation in a report on Tuesday, April 18th. Zacks Investment Research raised shares of Cameco Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BidaskClub cut shares of Cameco Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Royal Bank Of Canada initiated coverage on shares of Cameco Corporation in a report on Thursday, June 29th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Bank of America Corporation cut shares of Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $13.81.
Cameco Corporation Company Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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