Cameco Corporation $CCJ Position Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,384 shares of the basic materials company’s stock after selling 18,988 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Cameco were worth $20,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in Cameco in the second quarter worth $735,498,000. Canada Pension Plan Investment Board purchased a new position in Cameco during the second quarter valued at $420,346,000. BlackRock Inc. purchased a new position in Cameco during the second quarter valued at $381,091,000. Cibc World Market Inc. purchased a new position in Cameco during the second quarter valued at $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cameco during the second quarter valued at $301,990,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays dropped their target price on shares of Cameco from $95.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, November 2nd. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Jefferies Financial Group began coverage on shares of Cameco in a research report on Thursday, September 3rd. They set a “buy” rating and a $138.00 price target for the company. Zacks Research raised shares of Cameco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.12.

Cameco Stock Up 1.9%

Shares of Cameco stock opened at $74.25 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.62 and a current ratio of 2.55. The stock has a market capitalization of $32.34 billion, a PE ratio of 112.51, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18. Cameco Corporation has a 52-week low of $66.06 and a 52-week high of $135.24. The company has a 50-day simple moving average of $85.81 and a two-hundred day simple moving average of $102.42.

Cameco Announces Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of C$0.24 per share. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 22.0%. Cameco’s dividend payout ratio is presently 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.