Avanza Fonder AB Invests $2.29 Million in Cameco Co. (NYSE:CCJ)

Avanza Fonder AB purchased a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 4th quarter, HoldingsChannel reports. The firm purchased 44,600 shares of the basic materials company’s stock, valued at approximately $2,292,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its holdings in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 191 shares during the last quarter. S.A. Mason LLC raised its position in shares of Cameco by 6.0% in the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 206 shares during the period. Silvia Mccoll Wealth Management LLC lifted its stake in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after buying an additional 210 shares during the last quarter. EdgeRock Capital LLC boosted its holdings in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after buying an additional 224 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

NYSE:CCJ opened at $51.62 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The stock has a market cap of $22.47 billion, a P/E ratio of 271.69 and a beta of 0.95. The company has a fifty day moving average price of $54.53 and a 200 day moving average price of $49.24. Cameco Co. has a one year low of $35.43 and a one year high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 during the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. Analysts anticipate that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

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

Analysts Set New Price Targets

Separately, Janney Montgomery Scott upgraded shares of 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 given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cameco currently has an average rating of “Buy” and a consensus target price of $66.56.

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.