MGB Wealth Management LLC Acquires 2,000 Shares of Cameco Co. (NYSE:CCJ)

MGB Wealth Management LLC boosted its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 29.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,870 shares of the basic materials company’s stock after acquiring an additional 2,000 shares during the period. MGB Wealth Management LLC’s holdings in Cameco were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Telemark Asset Management LLC lifted its holdings in Cameco by 8.3% during the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock worth $62,088,000 after acquiring an additional 100,000 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new position in Cameco during the third quarter worth about $1,680,000. Tidal Investments LLC lifted its holdings in Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 2,683 shares in the last quarter. Country Club Bank bought a new position in Cameco during the third quarter worth about $2,093,000. Finally, Swiss National Bank raised its stake 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 valued at $62,892,000 after purchasing an additional 11,600 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of several recent research reports. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research reissued a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Scotiabank dropped their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Down 1.3 %

Cameco stock opened at $60.11 on Friday. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $60.98. 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 stock has a market capitalization of $26.16 billion, a P/E ratio of 316.39 and a beta of 0.89. The stock has a 50-day simple moving average of $51.66 and a 200 day simple moving average of $48.69.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. Analysts expect that Cameco Co. will post 0.7 earnings per share for the current year.

Cameco Increases Dividend

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

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.