Yong Rong HK Asset Management Ltd Invests $432,000 in Cameco Corporation $CCJ

Yong Rong HK Asset Management Ltd acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the basic materials company’s stock, valued at approximately $432,000. Cameco makes up 0.1% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Financial Consulate Inc. purchased a new stake in shares of Cameco in the 3rd quarter valued at about $25,000. Trust Co. of Vermont increased its position in shares of Cameco by 1,029.4% in the second quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Armstrong Advisory Group Inc. raised its stake in Cameco by 110.3% in 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 in the last quarter. Hilltop National Bank bought a new stake in Cameco during the second quarter valued at approximately $30,000. Finally, VSM Wealth Advisory LLC purchased a new position in Cameco in the 2nd quarter worth approximately $35,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CCJ shares. Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Sanford C. Bernstein lifted their price target on Cameco from $100.00 to $101.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group increased their price objective on Cameco from $95.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada dropped their target price on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cameco currently has an average rating of “Buy” and a consensus price target of $121.68.

Cameco Stock Down 7.7%

CCJ opened at $123.35 on Friday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $100.77 and its 200-day moving average price is $89.15. The company has a market cap of $53.71 billion, a P/E ratio of 143.43 and a beta of 1.01.

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

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This represents a yield of 27.0%. This is an increase from Cameco’s previous annual dividend of $0.12. Cameco’s dividend payout ratio (DPR) is currently 19.77%.

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.