Parsons Capital Management Inc. RI Purchases New Holdings in Cameco Co. (NYSE:CCJ)

Parsons Capital Management Inc. RI acquired a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 4th quarter, HoldingsChannel reports. The firm acquired 29,929 shares of the basic materials company’s stock, valued at approximately $1,538,000.

A number of other hedge funds have also made changes to their positions in the company. Dantai Capital Ltd increased its position in shares of Cameco by 44.2% during the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after purchasing an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new stake in Cameco during the 4th quarter worth $895,000. Whalen Wealth Management Inc. purchased a new stake in shares of Cameco during the fourth quarter worth $445,000. iA Global Asset Management Inc. acquired a new stake in shares of Cameco in the third quarter valued at about $5,305,000. Finally, Telemark Asset Management LLC lifted 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 worth $62,088,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Ratings Changes

Separately, Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One research 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 company’s stock. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus target price of $66.56.

Cameco Trading Down 15.2 %

Shares of CCJ stock opened at $47.50 on Tuesday. 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 twelve month low of $35.43 and a twelve month high of $62.55. The company’s 50-day moving average price is $54.70 and its 200-day moving average price is $49.39. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 250.02 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm 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%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, equities analysts predict that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were given a $0.118 dividend. The ex-dividend date was 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 payout ratio is currently 63.16%.

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.