Fred Alger Management LLC Raises Stake in Cameco Co. (NYSE:CCJ)

Fred Alger Management LLC lifted its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 99.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,680,259 shares of the basic materials company’s stock after acquiring an additional 839,077 shares during the period. Fred Alger Management LLC’s holdings in Cameco were worth $80,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in Cameco by 69.2% in the 3rd quarter. Captrust Financial Advisors now owns 48,690 shares of the basic materials company’s stock valued at $2,325,000 after purchasing an additional 19,921 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Cameco by 28.0% in the third quarter. Rockefeller Capital Management L.P. now owns 104,370 shares of the basic materials company’s stock worth $4,985,000 after acquiring an additional 22,843 shares during the period. Northwest & Ethical Investments L.P. acquired a new stake in Cameco during the third quarter worth $1,269,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cameco by 11.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 706,755 shares of the basic materials company’s stock valued at $33,755,000 after purchasing an additional 70,454 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Cameco by 16.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 68,359 shares of the basic materials company’s stock valued at $3,269,000 after purchasing an additional 9,489 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Cameco stock opened at $57.81 on Friday. The company’s 50 day moving average is $53.06 and its two-hundred day moving average is $48.88. The firm has a market cap of $25.16 billion, a PE ratio of 304.26 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last released its 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 company had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, research analysts expect that Cameco Co. will post 0.51 EPS for the current fiscal year.

Cameco Increases Dividend

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

Analyst Ratings Changes

CCJ has been the subject of a number of recent analyst reports. Glj Research reissued 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 raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Scotiabank cut their target price 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.