Garnet Equity Capital Holdings Inc. Sells 85,000 Shares of Cameco Corporation $CCJ

Garnet Equity Capital Holdings Inc. reduced its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 52.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,694 shares of the basic materials company’s stock after selling 85,000 shares during the period. Cameco comprises about 1.3% of Garnet Equity Capital Holdings Inc.’s investment portfolio, making the stock its 17th largest holding. Garnet Equity Capital Holdings Inc.’s holdings in Cameco were worth $5,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hager Investment Management Services LLC grew its stake in shares of Cameco by 0.4% during the 2nd quarter. Hager Investment Management Services LLC now owns 30,628 shares of the basic materials company’s stock worth $2,274,000 after acquiring an additional 127 shares in the last quarter. Wealth Alliance LLC boosted its holdings in Cameco by 1.6% during the second quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock worth $745,000 after purchasing an additional 154 shares during the last quarter. Signaturefd LLC grew its position in Cameco by 2.4% in the second quarter. Signaturefd LLC now owns 8,119 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 191 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Cameco by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 21,858 shares of the basic materials company’s stock valued at $1,623,000 after buying an additional 206 shares during the last quarter. Finally, Blume Capital Management Inc. lifted its position in Cameco by 2.2% during the 2nd quarter. Blume Capital Management Inc. now owns 13,361 shares of the basic materials company’s stock worth $992,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $91.20 on Thursday. The company has a market cap of $39.71 billion, a price-to-earnings ratio of 104.82 and a beta of 0.98. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The stock has a fifty day moving average price of $87.72 and a 200-day moving average price of $74.46.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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). The firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business’s 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. Cameco has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, December 16th. Investors of record on Monday, December 1st will be paid a $0.24 dividend. This represents a yield of 25.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. Cameco’s payout ratio is currently 19.77%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CCJ shares. BMO Capital Markets restated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cameco in a research note on Wednesday, October 8th. Raymond James Financial raised their target price on shares of Cameco to $150.00 in a research note on Wednesday, October 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.04.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.