Cameco Corporation $CCJ Shares Sold by Sterling Investment Management LLC

Sterling Investment Management LLC trimmed its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 21.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,062 shares of the basic materials company’s stock after selling 9,651 shares during the quarter. Cameco makes up 1.8% of Sterling Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Sterling Investment Management LLC’s holdings in Cameco were worth $2,940,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bison Wealth LLC raised its stake in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Cameco by 13.5% during the first quarter. Northern Trust Corp now owns 416,844 shares of the basic materials company’s stock valued at $17,157,000 after buying an additional 49,545 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Cameco by 11.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,766 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 807 shares during the last quarter. Jump Financial LLC purchased a new stake in Cameco in the 1st quarter worth approximately $435,000. Finally, MetLife Investment Management LLC acquired a new position in Cameco in the 1st quarter valued at $2,131,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a report on Monday. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Glj Research restated a “buy” rating and issued a $99.74 price target on shares of Cameco in a report on Wednesday, December 3rd. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Finally, Royal Bank Of Canada cut their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $117.25.

Cameco Stock Performance

Shares of CCJ stock opened at $91.35 on Wednesday. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The company has a market cap of $39.77 billion, a PE ratio of 106.22 and a beta of 1.07. The company’s fifty day simple moving average is $90.92 and its 200-day simple moving average is $82.74. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter last year, the business posted ($0.01) EPS. Cameco’s quarterly revenue was down 14.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a dividend yield of 27.0%. This is a boost from Cameco’s previous annual dividend of $0.12. Cameco’s 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.