Ipswich Investment Management Co. Inc. Takes Position in Cameco Co. (NYSE:CCJ)

Ipswich Investment Management Co. Inc. purchased a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 20,160 shares of the basic materials company’s stock, valued at approximately $963,000.

A number of other hedge funds also recently modified their holdings of the stock. Empowered Funds LLC purchased a new stake in Cameco in the third quarter worth $768,000. CIBC Asset Management Inc grew its stake in shares of Cameco by 58.0% during 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 acquiring an additional 1,386,639 shares during the period. Intellectus Partners LLC increased its holdings in Cameco by 1.4% in the 3rd quarter. Intellectus Partners LLC now owns 87,960 shares of the basic materials company’s stock worth $4,201,000 after acquiring an additional 1,200 shares during the last quarter. Nicola Wealth Management LTD. increased its holdings in Cameco by 46.8% in the 3rd quarter. Nicola Wealth Management LTD. now owns 45,500 shares of the basic materials company’s stock worth $2,174,000 after acquiring an additional 14,500 shares during the last quarter. Finally, Huntington National Bank raised its stake in Cameco by 8.2% in the 3rd quarter. Huntington National Bank now owns 13,827 shares of the basic materials company’s stock valued at $660,000 after acquiring an additional 1,045 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Cameco stock opened at $53.57 on Friday. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $58.72. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $23.31 billion, a PE ratio of 281.95 and a beta of 0.89. The firm’s 50 day simple moving average is $49.73 and its 200 day simple moving average is $48.33.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million during the quarter, compared to the consensus estimate 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 company posted $0.24 EPS. As a group, analysts expect that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a dividend 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 57.89%.

Analyst Upgrades and Downgrades

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

Cameco 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.