Oak Harvest Investment Services Takes Position in Cameco Corporation $CCJ

Oak Harvest Investment Services bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 36,439 shares of the basic materials company’s stock, valued at approximately $2,705,000.

Other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC bought a new position in Cameco during the first quarter worth $2,131,000. TD Asset Management Inc lifted its stake in shares of Cameco by 3.7% during the 2nd quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock worth $158,141,000 after buying an additional 77,081 shares during the last quarter. Nwam LLC boosted its holdings in shares of Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock worth $6,304,000 after buying an additional 8,519 shares during the period. Northwest & Ethical Investments L.P. grew its stake in Cameco by 50.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock valued at $1,750,000 after buying an additional 14,154 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock valued at $1,663,000 after acquiring an additional 11,879 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $86.00 on Friday. The stock has a fifty day moving average price of $87.91 and a 200-day moving average price of $74.54. The company has a market cap of $37.45 billion, a price-to-earnings ratio of 98.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.21% and a net margin of 14.97%.The company had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.24 per share. This is a boost from Cameco’s previous annual dividend of $0.12. The ex-dividend date of this dividend is Monday, December 1st. This represents a dividend yield of 25.0%. Cameco’s payout ratio is currently 19.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Raymond James Financial upped their target price on Cameco to $150.00 in a research report on Wednesday, October 29th. TD Securities restated a “buy” rating on shares of Cameco in a research note on Tuesday, August 5th. UBS Group started coverage on Cameco in a research report on Monday. They set a “neutral” rating and a $140.00 price objective on the stock. President Capital raised shares of Cameco from a “neutral” rating to a “buy” rating in a research report on Monday, September 22nd. Finally, Royal Bank Of Canada decreased their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.75.

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.