Cameco Co. (NYSE:CCJ) Shares Sold by Covea Finance

Covea Finance reduced its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,090,586 shares of the basic materials company’s stock after selling 62,965 shares during the period. Cameco accounts for about 2.5% of Covea Finance’s holdings, making the stock its 9th biggest holding. Covea Finance owned 0.25% of Cameco worth $56,033,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Cameco in the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc boosted its stake in Cameco by 58.0% during the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after purchasing an additional 1,386,639 shares during the period. M&G PLC acquired a new position in Cameco in the third quarter valued at $66,227,000. Segra Capital Management LLC purchased a new stake in shares of Cameco in the third quarter valued at about $53,013,000. Finally, Fred Alger Management LLC raised its stake in Cameco by 99.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after acquiring an additional 839,077 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

Shares of NYSE CCJ opened at $49.08 on Wednesday. The company’s fifty day moving average is $54.66 and its two-hundred day moving average is $49.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The firm has a market capitalization of $21.37 billion, a P/E ratio of 258.33 and a beta of 0.95. Cameco Co. has a one year low of $35.43 and a one year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts forecast that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a dividend of $0.118 per share. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. Cameco’s payout ratio is presently 63.16%.

About Cameco

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.