Westpac Banking Corp Has $347,000 Stake in Cameco Corporation (CCJ)
Westpac Banking Corp continued to hold its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,384 shares of the basic materials company’s stock at the end of the second quarter. Westpac Banking Corp’s holdings in Cameco Corporation were worth $347,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Cameco Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 8,981,534 shares of the basic materials company’s stock valued at $99,426,000 after buying an additional 251,704 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cameco Corporation during the 1st quarter valued at $72,208,000. Wellington Management Group LLP lifted its holdings in shares of Cameco Corporation by 1,990.6% during the 1st quarter. Wellington Management Group LLP now owns 6,283,068 shares of the basic materials company’s stock valued at $69,366,000 after buying an additional 5,982,525 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Cameco Corporation by 111.9% during the 1st quarter. Global X Management Co. LLC now owns 5,969,764 shares of the basic materials company’s stock valued at $65,891,000 after buying an additional 3,152,321 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Cameco Corporation by 22.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,850,916 shares of the basic materials company’s stock valued at $53,220,000 after buying an additional 1,068,516 shares during the period. 56.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on CCJ shares. Zacks Investment Research raised Cameco Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BidaskClub cut Cameco Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Royal Bank Of Canada started coverage on Cameco Corporation in a report on Thursday, June 29th. They set an “outperform” rating and a $16.00 price target on the stock. Bank of America Corporation cut Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Friday, June 30th. Finally, Credit Suisse Group cut Cameco Corporation from a “neutral” rating to an “underperform” rating in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.07.
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Cameco Corporation (CCJ) opened at 10.14 on Friday. The company’s market capitalization is $4.01 billion. The company has a 50-day moving average price of $9.99 and a 200-day moving average price of $10.11. Cameco Corporation has a one year low of $7.41 and a one year high of $13.36.
Cameco Corporation (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.03. Cameco Corporation had a negative net margin of 0.75% and a positive return on equity of 2.59%. The company had revenue of $470.00 million for the quarter, compared to analyst estimates of $383.81 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts expect that Cameco Corporation will post $0.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.0799 dividend. This represents a $0.32 annualized dividend and a yield of 3.15%. This is a positive change from Cameco Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, September 28th. Cameco Corporation’s dividend payout ratio is presently -999.67%.
Cameco Corporation Profile
Cameco Corporation (Cameco) is a uranium producer. The Company is primarily engaged in the exploration for and the development, mining, refining, conversion, fabrication and trading of uranium for sale as fuel for generating electricity in nuclear power reactors in Canada and other countries. The Company operates through three segments: uranium, fuel services and NUKEM.
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