Bank of Hawaii Acquires New Position in Cameco Co. (NYSE:CCJ)

Bank of Hawaii bought a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,411 shares of the basic materials company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Telemark Asset Management LLC raised its position in shares of Cameco by 8.3% during the 3rd quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares during the period. Moody Lynn & Lieberson LLC purchased a new stake in Cameco in the third quarter valued at $1,680,000. Tidal Investments LLC lifted its stake 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 valued at $868,000 after purchasing an additional 2,683 shares during the last quarter. Country Club Bank purchased a new position in shares of Cameco during the 3rd quarter worth $2,093,000. Finally, Swiss National Bank increased its position in shares of Cameco by 0.9% during 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 last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of CCJ stock opened at $58.10 on Tuesday. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $60.98. The firm has a 50 day moving average of $52.01 and a two-hundred day moving average of $48.69. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $25.28 billion, a PE ratio of 305.78 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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). The company 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 in the previous year, the firm earned $0.24 earnings per share. On average, research analysts predict that Cameco Co. will post 0.7 EPS 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 issued a $0.118 dividend. This is a boost 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 (DPR) is 47.37%.

Analyst Upgrades and Downgrades

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