King Luther Capital Management Corp Acquires 192,401 Shares of Cameco Co. (NYSE:CCJ)

King Luther Capital Management Corp boosted its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 28.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 857,849 shares of the basic materials company’s stock after purchasing an additional 192,401 shares during the quarter. King Luther Capital Management Corp owned about 0.20% of Cameco worth $40,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Cameco during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Cameco by 84.2% in the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the period. JFS Wealth Advisors LLC boosted its stake in Cameco by 130.6% during the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after buying an additional 550 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Cameco by 68.8% in the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after buying an additional 642 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cameco Trading Up 0.3 %

Shares of NYSE:CCJ opened at $57.61 on Thursday. The company has a 50-day simple moving average of $50.51 and a 200 day simple moving average of $48.47. The company has a market capitalization of $25.07 billion, a P/E ratio of 303.21 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 $59.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The company had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Sell-side analysts forecast that Cameco Co. will post 0.7 earnings per share for the current year.

Cameco Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.118 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is currently 57.89%.

About Cameco

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.