Park Place Capital Corp Sells 218 Shares of Cameco Co. (NYSE:CCJ)

Park Place Capital Corp lessened its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,213 shares of the basic materials company’s stock after selling 218 shares during the period. Park Place Capital Corp’s holdings in Cameco were worth $165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc lifted its holdings in Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after buying an additional 1,386,639 shares during the period. M&G PLC bought a new position in shares of Cameco in the 3rd quarter worth $66,227,000. Segra Capital Management LLC purchased a new stake in shares of Cameco during the 3rd quarter worth $53,013,000. Fred Alger Management LLC boosted its position in Cameco by 99.7% during the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after purchasing an additional 839,077 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Cameco by 44.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock valued at $102,737,000 after purchasing an additional 664,828 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Cameco Trading Up 5.3 %

Shares of NYSE:CCJ opened at $56.38 on Thursday. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $62.55. 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 firm has a market capitalization of $24.54 billion, a P/E ratio of 296.73 and a beta of 0.95. The business’s 50-day moving average is $54.50 and its 200 day moving average is $49.27.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the company earned $0.24 earnings per share. Cameco’s revenue was up 25.4% on a year-over-year basis. On average, research analysts predict that Cameco Co. will post 0.47 earnings per share for the current fiscal 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 issued a dividend of $0.118 per share. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a dividend yield of 0.22%. Cameco’s payout ratio is 63.16%.

Analysts Set New Price Targets

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