Myriad Asset Management US LP Makes New Investment in Cameco Corporation $CCJ

Myriad Asset Management US LP acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,558 shares of the basic materials company’s stock, valued at approximately $1,640,000. Cameco comprises about 0.9% of Myriad Asset Management US LP’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Cameco by 2.8% in the second quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock valued at $1,304,504,000 after buying an additional 481,171 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after purchasing an additional 2,071,373 shares during the period. Norges Bank bought a new stake in shares of Cameco in the 2nd quarter valued at $341,736,000. William Blair Investment Management LLC raised its stake in Cameco by 15.1% during the second quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock worth $287,217,000 after buying an additional 506,667 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Cameco by 20.7% in the second quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after buying an additional 578,393 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

CCJ stock opened at $121.65 on Friday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $126.47. The firm has a market cap of $52.97 billion, a PE ratio of 141.45 and a beta of 1.01. The business has a 50 day moving average of $95.51 and a 200-day moving average of $86.90. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The firm had revenue of $313.74 million for the quarter, compared to the consensus estimate of $531.72 million. During the same period last year, the company posted ($0.01) earnings per share. Cameco’s revenue for the quarter was down 14.7% on a year-over-year basis. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were given a $0.24 dividend. This represents a dividend yield of 27.0%. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. Cameco’s dividend payout ratio (DPR) is currently 19.77%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Glj Research reiterated a “buy” rating and set a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. The Goldman Sachs Group lifted their target price on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. National Bankshares reissued an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $121.68.

Cameco Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.