Portland Investment Counsel Inc. Purchases 6,000 Shares of Cameco Co. (NYSE:CCJ)

Portland Investment Counsel Inc. increased its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 50.0% during the third quarter, Holdings Channel reports. The institutional investor owned 18,000 shares of the basic materials company’s stock after purchasing an additional 6,000 shares during the period. Cameco comprises about 0.3% of Portland Investment Counsel Inc.’s portfolio, making the stock its 29th largest holding. Portland Investment Counsel Inc.’s holdings in Cameco were worth $860,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Telemark Asset Management LLC raised its position in shares of Cameco by 8.3% during the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after purchasing an additional 100,000 shares during the period. Moody Lynn & Lieberson LLC bought a new stake in Cameco during the 3rd quarter valued at $1,680,000. Tidal Investments LLC raised its holdings in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cameco by 0.9% in the third quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after buying an additional 11,600 shares in the last quarter. Finally, Country Club Bank acquired a new position in shares of Cameco during the third quarter valued at about $2,093,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $59.47 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $25.88 billion, a PE ratio of 313.00 and a beta of 0.89. The stock’s 50 day moving average price is $53.36 and its 200-day moving average price is $48.95. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business 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 revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities analysts anticipate that Cameco Co. will post 0.51 EPS for the current 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. This is an increase from Cameco’s previous annual dividend of $0.09. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is currently 57.89%.

Analyst Upgrades and Downgrades

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

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.