The Manufacturers Life Insurance Company Purchases 187,512 Shares of Cameco Co. (NYSE:CCJ)

The Manufacturers Life Insurance Company increased its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,175,038 shares of the basic materials company’s stock after purchasing an additional 187,512 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.50% of Cameco worth $103,968,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Telemark Asset Management LLC raised its holdings in shares of Cameco by 8.3% in the 3rd 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 shares of Cameco in the 3rd quarter worth approximately $1,680,000. Tidal Investments LLC raised its holdings in shares of Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after purchasing an additional 2,683 shares during the period. Swiss National Bank raised its holdings in shares of Cameco by 0.9% in the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock worth $62,892,000 after purchasing an additional 11,600 shares during the period. Finally, Country Club Bank bought a new stake in shares of Cameco in the 3rd quarter worth approximately $2,093,000. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ opened at $58.62 on Wednesday. The stock has a market cap of $25.51 billion, a PE ratio of 308.54 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $60.98. The firm’s 50-day simple moving average is $52.37 and its two-hundred day simple moving average is $48.75.

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 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 revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.24 EPS. Analysts anticipate that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research reports. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a report on Wednesday, August 14th. Scotiabank reduced their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One research 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. Based on data from MarketBeat, the stock currently has an average 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.