Connor Clark & Lunn Investment Management Ltd. Sells 2,506,188 Shares of Cameco Co. (NYSE:CCJ)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 45.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,060,974 shares of the basic materials company’s stock after selling 2,506,188 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.70% of Cameco worth $146,213,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Cameco by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after purchasing an additional 200,871 shares during the last quarter. Capital World Investors increased its holdings in Cameco by 1.6% during the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after purchasing an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cameco by 3.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock worth $282,210,000 after acquiring an additional 202,157 shares in the last quarter. William Blair Investment Management LLC increased its stake in Cameco by 6.8% in the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after buying an additional 265,196 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Cameco by 4.7% in the second quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock valued at $192,622,000 after acquiring an additional 176,183 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CCJ shares. National Bank Financial raised shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Finally, Scotiabank reduced their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Stock Up 2.8 %

Cameco stock opened at $57.44 on Wednesday. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 302.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $58.72. The firm has a 50 day moving average price of $50.51 and a two-hundred day moving average price of $48.47.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million for 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%. Cameco’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts predict that Cameco Co. will post 0.7 EPS for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a $0.118 dividend. This represents a yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is 47.37%.

Cameco Company 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.