Phoenix Financial Ltd. Sells 26,346 Shares of Cameco Corporation $CCJ

Phoenix Financial Ltd. lowered its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 36.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,857 shares of the basic materials company’s stock after selling 26,346 shares during the period. Phoenix Financial Ltd.’s holdings in Cameco were worth $3,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Cameco in the 2nd quarter valued at about $341,736,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Cameco by 41.4% during the second 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. Acadian Asset Management LLC increased its position in Cameco by 1,428.6% during the second quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock worth $72,505,000 after buying an additional 914,300 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Cameco in the second quarter valued at approximately $66,781,000. Finally, Fullerton Fund Management Co Ltd. lifted its position in shares of Cameco by 3,586.0% in the second quarter. Fullerton Fund Management Co Ltd. now owns 762,380 shares of the basic materials company’s stock valued at $56,591,000 after buying an additional 741,697 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCJ has been the topic of several research reports. The Goldman Sachs Group upped their price objective on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. 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 price objective for the company. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Royal Bank Of Canada dropped their price target on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, National Bankshares reiterated an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $121.68.

Cameco Stock Up 3.7%

Shares of NYSE CCJ opened at $125.71 on Wednesday. The stock has a market capitalization of $54.74 billion, a P/E ratio of 146.18 and a beta of 1.01. The stock’s fifty day moving average is $97.91 and its 200 day moving average is $88.18. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $128.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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). The business had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the business earned ($0.01) earnings per share. Sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were given a $0.24 dividend. This is an increase from Cameco’s previous annual dividend of $0.12. The ex-dividend date was Monday, December 1st. This represents a yield of 27.0%. Cameco’s dividend payout ratio is currently 19.77%.

About Cameco

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.