Russell Investments Group Ltd. Lowers Stock Position in Cameco Co. (NYSE:CCJ)

Russell Investments Group Ltd. lowered its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 15.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 668,615 shares of the basic materials company’s stock after selling 123,970 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Cameco worth $20,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CCJ. Global Retirement Partners LLC increased its holdings in Cameco by 291.3% during the first quarter. Global Retirement Partners LLC now owns 1,209 shares of the basic materials company’s stock worth $32,000 after buying an additional 900 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Cameco by 61.9% during the first quarter. 1832 Asset Management L.P. now owns 1,700 shares of the basic materials company’s stock worth $49,000 after buying an additional 650 shares during the last quarter. Fifth Third Bancorp increased its holdings in Cameco by 412.5% during the second quarter. Fifth Third Bancorp now owns 1,845 shares of the basic materials company’s stock worth $58,000 after buying an additional 1,485 shares during the last quarter. Larson Financial Group LLC increased its holdings in Cameco by 17.1% during the second quarter. Larson Financial Group LLC now owns 2,236 shares of the basic materials company’s stock worth $70,000 after buying an additional 326 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Cameco during the first quarter worth about $59,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Cameco Price Performance

Shares of NYSE:CCJ opened at $45.36 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.85 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $19.68 billion, a PE ratio of 103.09, a P/E/G ratio of 1.23 and a beta of 0.95. Cameco Co. has a twelve month low of $21.22 and a twelve month high of $45.44. The company has a 50-day moving average price of $39.73 and a two-hundred day moving average price of $34.71.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. Cameco had a net margin of 11.76% and a return on equity of 4.73%. The firm had revenue of $428.65 million during the quarter. Equities analysts forecast that Cameco Co. will post 0.59 EPS for the current year.

Cameco Cuts Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.088 dividend. The ex-dividend date is Wednesday, November 29th. This represents a dividend yield of 0.22%. Cameco’s dividend payout ratio (DPR) is currently 20.45%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCJ. TheStreet upgraded shares of Cameco from a “c” rating to a “b-” rating in a report on Tuesday, October 31st. Scotiabank raised their price objective on shares of Cameco from C$54.00 to C$70.00 in a report on Friday, September 29th. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Canaccord Genuity Group increased their target price on shares of Cameco from $49.50 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and a consensus price target of $65.33.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.