Cameco Corporation $CCJ Shares Sold by AGF Management Ltd.

AGF Management Ltd. decreased its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 30.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,355,730 shares of the basic materials company’s stock after selling 1,022,685 shares during the period. Cameco makes up approximately 0.9% of AGF Management Ltd.’s holdings, making the stock its 28th biggest position. AGF Management Ltd.’s holdings in Cameco were worth $197,657,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CCJ. Financial Consulate Inc. bought a new stake in Cameco during the 3rd quarter valued at $25,000. Armstrong Advisory Group Inc. increased its holdings in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 182 shares during the period. Hilltop National Bank bought a new stake in shares of Cameco during the second quarter valued at about $30,000. Cullen Frost Bankers Inc. acquired a new stake in Cameco in the third quarter worth about $37,000. Finally, VSM Wealth Advisory LLC bought a new position in Cameco in the 2nd quarter valued at about $35,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 7.7%

NYSE:CCJ opened at $123.35 on Monday. The stock has a market cap of $53.71 billion, a PE ratio of 143.43 and a beta of 0.99. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The stock’s 50-day moving average is $100.77 and its two-hundred day moving average is $89.34.

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 the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company had revenue of $313.74 million for the quarter, compared to analysts’ expectations of $531.72 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The company’s revenue was down 14.7% on a year-over-year basis. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Analysts Set New Price Targets

CCJ has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen cut Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group assumed coverage on Cameco in a report on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, October 29th. Finally, Glj Research reiterated a “buy” rating and issued a $99.74 price target on shares of Cameco in a research report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Cameco has a consensus rating of “Buy” and a consensus price target of $121.68.

About Cameco

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.