Cameco Corporation (CCJ) Position Raised by Gabelli Funds LLC
Gabelli Funds LLC increased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 1.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 659,000 shares of the basic materials company’s stock after buying an additional 12,000 shares during the period. Gabelli Funds LLC owned 0.17% of Cameco Corporation worth $6,373,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Bank of Nova Scotia Trust Co. raised its position in shares of Cameco Corporation by 0.5% in the second quarter. Bank of Nova Scotia Trust Co. now owns 29,534 shares of the basic materials company’s stock worth $269,000 after buying an additional 144 shares in the last quarter. Korea Investment CORP raised its position in Cameco Corporation by 1.8% during the second quarter. Korea Investment CORP now owns 24,935 shares of the basic materials company’s stock valued at $227,000 after purchasing an additional 441 shares in the last quarter. Augustine Asset Management Inc. raised its position in Cameco Corporation by 0.5% during the second quarter. Augustine Asset Management Inc. now owns 103,021 shares of the basic materials company’s stock valued at $937,000 after purchasing an additional 474 shares in the last quarter. Usca Ria LLC raised its position in Cameco Corporation by 4.6% during the second quarter. Usca Ria LLC now owns 11,668 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 510 shares in the last quarter. Finally, Brookstone Capital Management raised its position in Cameco Corporation by 9.8% during the second quarter. Brookstone Capital Management now owns 11,522 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors own 56.43% of the company’s stock.
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A number of equities research analysts have weighed in on CCJ shares. Zacks Investment Research upgraded Cameco Corporation from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, October 16th. Bank of America Corporation raised their price objective on Cameco Corporation from $27.00 to $29.00 and gave the company an “underperform” rating in a research note on Wednesday, October 4th. Scotiabank cut Cameco Corporation from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, October 3rd. Credit Suisse Group cut Cameco Corporation from a “neutral” rating to an “underperform” rating in a research note on Monday, July 17th. Finally, Royal Bank Of Canada reduced their price objective on Cameco Corporation from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Cameco Corporation currently has an average rating of “Hold” and a consensus target price of $15.22.
Shares of Cameco Corporation (NYSE CCJ) opened at $9.36 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.16 and a current ratio of 5.40. Cameco Corporation has a 12 month low of $7.68 and a 12 month high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, October 27th. The basic materials company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.20). The business had revenue of $486.00 million during the quarter, compared to the consensus estimate of $486.84 million. Cameco Corporation had a negative return on equity of 0.69% and a negative net margin of 13.04%. The firm’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. research analysts anticipate that Cameco Corporation will post 0.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be paid a $0.078 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.31 annualized dividend and a dividend yield of 3.33%. Cameco Corporation’s payout ratio is presently -57.14%.
Cameco Corporation Company Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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