Fred Alger Management LLC Grows Stock Position in Cameco Co. (NYSE:CCJ)

Fred Alger Management LLC lifted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 99.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,680,259 shares of the basic materials company’s stock after buying an additional 839,077 shares during the quarter. Fred Alger Management LLC owned approximately 0.39% of Cameco worth $80,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in Cameco in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. First Horizon Advisors Inc. boosted its holdings in Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after buying an additional 351 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares during the period. Finally, Stone House Investment Management LLC increased its holdings in Cameco by 1,360.0% in the third quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $49,000 after buying an additional 952 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Cameco Stock Performance

Shares of NYSE:CCJ opened at $57.81 on Friday. The business’s 50 day moving average price is $53.06 and its 200-day moving average price is $48.88. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $60.98. 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 $25.16 billion, a PE ratio of 304.26 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 (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. As a group, equities research analysts expect that Cameco Co. will post 0.51 earnings per share 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 issued a $0.118 dividend. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s dividend payout ratio is presently 57.89%.

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.