Pekin Hardy Strauss Inc. Buys 14,893 Shares of Cameco Co. (NYSE:CCJ)

Pekin Hardy Strauss Inc. raised its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 371,840 shares of the basic materials company’s stock after purchasing an additional 14,893 shares during the quarter. Cameco accounts for 2.3% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 3rd largest holding. Pekin Hardy Strauss Inc.’s holdings in Cameco were worth $17,759,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Telemark Asset Management LLC raised its stake in shares of Cameco by 8.3% in the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after acquiring an additional 100,000 shares during the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Cameco in the third quarter valued at approximately $1,680,000. Tidal Investments LLC raised its stake in shares of Cameco by 15.5% in the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after acquiring an additional 2,683 shares during the last quarter. Country Club Bank bought a new position in shares of Cameco in the third quarter valued at approximately $2,093,000. Finally, Swiss National Bank raised its stake in shares of Cameco by 0.9% in the third quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock valued at $62,892,000 after acquiring an additional 11,600 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Price Performance

CCJ opened at $60.11 on Friday. The company has a fifty day moving average price of $51.66 and a two-hundred day moving average price of $48.67. 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 $60.98. The firm has a market capitalization of $26.16 billion, a PE ratio of 316.39 and a beta of 0.89.

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

Cameco Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.118 per share. This represents a yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 47.37%.

Wall Street Analyst Weigh In

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

Cameco 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.