Verus Capital Partners LLC Boosts Stock Position in Cameco Co. (NYSE:CCJ)

Verus Capital Partners LLC lifted its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,582 shares of the basic materials company’s stock after buying an additional 1,432 shares during the period. Verus Capital Partners LLC’s holdings in Cameco were worth $840,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. purchased a new stake in Cameco during the first quarter valued at about $232,000. Susquehanna Fundamental Investments LLC bought a new position in Cameco during the 1st quarter worth approximately $295,000. US Bancorp DE increased its stake in Cameco by 3.0% in the 1st quarter. US Bancorp DE now owns 26,933 shares of the basic materials company’s stock worth $1,167,000 after purchasing an additional 773 shares during the period. Avantax Advisory Services Inc. lifted its position in Cameco by 15.2% in the first quarter. Avantax Advisory Services Inc. now owns 32,253 shares of the basic materials company’s stock valued at $1,397,000 after purchasing an additional 4,249 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Cameco during the first quarter valued at approximately $31,131,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ stock opened at $54.42 on Wednesday. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $48.49 and its 200-day moving average price is $48.20. The stock has a market cap of $23.68 billion, a PE ratio of 286.42 and a beta of 0.89. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million for 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%. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. On average, equities analysts expect that Cameco Co. will post 0.83 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 paid a $0.118 dividend. This is a boost from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio is currently 57.89%.

Analyst Upgrades and Downgrades

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

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.