Fmr LLC Sells 16,893,316 Shares of Cameco Co. (NYSE:CCJ)

Fmr LLC lowered its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 44.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 20,827,771 shares of the basic materials company’s stock after selling 16,893,316 shares during the quarter. Fmr LLC owned approximately 4.79% of Cameco worth $994,944,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Cameco during the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc boosted its stake in shares of Cameco by 58.0% in the 3rd 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 last quarter. M&G PLC purchased a new stake in shares of Cameco during the 3rd quarter valued at about $66,227,000. King Luther Capital Management Corp bought a new position in Cameco in the second quarter worth approximately $32,740,000. Finally, Van ECK Associates Corp increased its position in Cameco by 48.1% in the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock worth $75,691,000 after buying an additional 515,046 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $57.81 on Thursday. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $60.98. The company has a market cap of $25.16 billion, a P/E ratio of 304.28 and a beta of 0.89. The company’s 50-day moving average price is $52.73 and its 200-day moving average price is $48.81. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) 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 business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, sell-side analysts forecast that Cameco Co. will post 0.7 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank dropped their price objective on 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 raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reiterated a “buy” rating and issued a $63.73 price target on shares of Cameco in a report 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 issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $66.56.

About Cameco

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.