The Manufacturers Life Insurance Company Boosts Stock Holdings in Cameco Co. (NYSE:CCJ)

The Manufacturers Life Insurance Company grew its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 9.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,175,038 shares of the basic materials company’s stock after purchasing an additional 187,512 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cameco were worth $103,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. S.A. Mason LLC grew its holdings in shares of Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after buying an additional 206 shares during the last quarter. Silvia Mccoll Wealth Management LLC lifted its position in Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after purchasing an additional 210 shares during the period. EdgeRock Capital LLC lifted its position in Cameco by 1.7% during the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after purchasing an additional 224 shares during the period. LRI Investments LLC lifted its position in Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 234 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Cameco by 71.5% during 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 during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CCJ. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research 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 research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 0.9 %

CCJ opened at $58.62 on Wednesday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $60.98. The company has a market capitalization of $25.51 billion, a PE ratio of 308.54 and a beta of 0.89. The firm’s 50 day simple moving average is $52.37 and its two-hundred day simple moving average is $48.75.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. As a group, equities analysts forecast 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. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.118 per share. This represents a dividend yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date of this dividend is Wednesday, November 27th. Cameco’s dividend payout ratio (DPR) is presently 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.