Balboa Wealth Partners Sells 10,726 Shares of Cameco Co. (NYSE:CCJ)

Balboa Wealth Partners trimmed its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 69.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,650 shares of the basic materials company’s stock after selling 10,726 shares during the period. Balboa Wealth Partners’ holdings in Cameco were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Nicola Wealth Management LTD. boosted its stake in Cameco by 46.8% during the third quarter. Nicola Wealth Management LTD. now owns 45,500 shares of the basic materials company’s stock worth $2,174,000 after acquiring an additional 14,500 shares in the last quarter. Huntington National Bank boosted its position in shares of Cameco by 8.2% during the 3rd quarter. Huntington National Bank now owns 13,827 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 1,045 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Cameco by 9.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,397 shares of the basic materials company’s stock worth $1,547,000 after purchasing an additional 2,859 shares in the last quarter. Cumberland Partners Ltd grew its stake in shares of Cameco by 1.5% in the 3rd quarter. Cumberland Partners Ltd now owns 274,843 shares of the basic materials company’s stock valued at $13,144,000 after buying an additional 4,140 shares during the period. Finally, Verus Capital Partners LLC increased its position in Cameco by 8.9% in the 3rd quarter. Verus Capital Partners LLC now owns 17,582 shares of the basic materials company’s stock valued at $840,000 after buying an additional 1,432 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research reports. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Scotiabank reduced 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. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 0.9 %

Cameco stock opened at $53.57 on Friday. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $58.72. 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 firm’s 50-day simple moving average is $49.40 and its 200 day simple moving average is $48.30. The stock has a market cap of $23.31 billion, a PE ratio of 281.95 and a beta of 0.89.

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 during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. Research analysts predict that Cameco Co. will post 0.69 EPS for the current fiscal year.

Cameco Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.118 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is 57.89%.

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.