Stone House Investment Management LLC Acquires 952 Shares of Cameco Co. (NYSE:CCJ)

Stone House Investment Management LLC increased its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1,360.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,022 shares of the basic materials company’s stock after buying an additional 952 shares during the quarter. Stone House Investment Management LLC’s holdings in Cameco were worth $49,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new stake in shares of Cameco in the second quarter worth approximately $73,125,000. CIBC Asset Management Inc grew its position in Cameco by 58.0% in 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 purchased a new stake in Cameco during the 3rd quarter valued at $66,227,000. King Luther Capital Management Corp bought a new position in shares of Cameco during the 2nd quarter valued at $32,740,000. Finally, Van ECK Associates Corp boosted its stake in shares of Cameco by 48.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after buying an additional 515,046 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

CCJ has been the subject of a number of research reports. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Price Performance

CCJ stock traded up $0.03 during trading on Wednesday, hitting $58.54. 403,207 shares of the company’s stock traded hands, compared to its average volume of 4,434,380. The business has a fifty day simple moving average of $52.37 and a 200 day simple moving average of $48.75. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $60.98. 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 stock has a market capitalization of $25.48 billion, a price-to-earnings ratio of 308.54 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million during the quarter, compared to the consensus estimate of $646.83 million. During the same period in the previous year, the business posted $0.24 EPS. The firm’s revenue was up 25.4% on a year-over-year basis. As a group, research analysts expect that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date is Wednesday, November 27th. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 47.37%.

Cameco 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.