Gemmer Asset Management LLC Invests $971,000 in Cameco Corporation $CCJ

Gemmer Asset Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,577 shares of the basic materials company’s stock, valued at approximately $971,000.

Several other hedge funds have also added to or reduced their stakes in CCJ. Vanguard Group Inc. grew its holdings in Cameco by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock valued at $1,304,504,000 after buying an additional 481,171 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Cameco by 39.3% in the first quarter. Alliancebernstein L.P. now owns 14,048,244 shares of the basic materials company’s stock valued at $578,226,000 after acquiring an additional 3,959,837 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Norges Bank bought a new position in Cameco during the second quarter worth about $341,736,000. Finally, William Blair Investment Management LLC increased its position in Cameco by 15.1% during the second quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock worth $287,217,000 after acquiring an additional 506,667 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 0.2%

NYSE CCJ opened at $93.63 on Thursday. The business has a fifty day moving average price of $90.44 and a two-hundred day moving average price of $81.88. The stock has a market capitalization of $40.77 billion, a PE ratio of 108.87 and a beta of 1.07. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $110.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a return on equity of 8.58% and a net margin of 15.24%.The business had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same period last year, the firm posted ($0.01) EPS. Cameco’s quarterly revenue was down 14.7% on a year-over-year basis. Equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, December 16th. Shareholders of record on Monday, December 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 1st. This is a boost from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 27.0%. Cameco’s payout ratio is presently 19.77%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group initiated coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a research note on Friday, August 29th. CLSA started coverage on Cameco in a research note on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective on the stock. Raymond James Financial lifted their price objective on Cameco to $150.00 in a report on Wednesday, October 29th. Finally, National Bankshares reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.25.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.