Chicago Partners Investment Group LLC Buys 10,798 Shares of Cameco Corporation $CCJ

Chicago Partners Investment Group LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, HoldingsChannel reports. The fund bought 10,798 shares of the basic materials company’s stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in shares of Cameco in the second quarter valued at about $735,498,000. Canada Pension Plan Investment Board purchased a new stake in Cameco in the 2nd quarter worth approximately $420,346,000. BlackRock Inc. purchased a new stake in Cameco in the 2nd quarter worth approximately $381,091,000. Cibc World Market Inc. bought a new stake in shares of Cameco in the 2nd quarter worth approximately $354,022,000. Finally, Amundi grew its position in shares of Cameco by 13.7% in the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company’s stock worth $304,773,000 after buying an additional 359,375 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCJ shares. Zacks Research upgraded Cameco from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Jefferies Financial Group initiated coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price on the stock. Finally, Truist Financial reduced their price target on shares of Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.12.

Cameco Price Performance

CCJ opened at $72.87 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The company has a market cap of $31.74 billion, a price-to-earnings ratio of 90.81, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18. The stock has a fifty day simple moving average of $86.25 and a two-hundred day simple moving average of $102.67. Cameco Corporation has a 12-month low of $66.06 and a 12-month high of $135.24.

Cameco Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a dividend of C$0.24 per share. This represents a yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s dividend payout ratio (DPR) is 25.76%.

About Cameco

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.