Scotia Capital Inc. Trims Stock Position in Cameco Corporation $CCJ

Scotia Capital Inc. reduced its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,083,443 shares of the basic materials company’s stock after selling 75,435 shares during the period. Scotia Capital Inc. owned 0.25% of Cameco worth $80,095,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCJ. Bison Wealth LLC lifted its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the period. Cetera Investment Advisers grew its holdings in shares of Cameco by 11.1% during the 1st quarter. Cetera Investment Advisers now owns 173,196 shares of the basic materials company’s stock worth $7,129,000 after purchasing an additional 17,284 shares during the period. Assetmark Inc. grew its stake in Cameco by 59.5% during the first quarter. Assetmark Inc. now owns 4,853 shares of the basic materials company’s stock worth $200,000 after buying an additional 1,811 shares during the period. LPL Financial LLC increased its holdings in Cameco by 161.4% in the 1st quarter. LPL Financial LLC now owns 643,011 shares of the basic materials company’s stock valued at $26,466,000 after purchasing an additional 397,002 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Cameco in the first quarter valued at about $1,067,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCJ shares. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. CLSA assumed coverage on Cameco in a research note on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price objective on the stock. Raymond James Financial increased their target price on Cameco to $150.00 in a report on Wednesday, October 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Finally, The Goldman Sachs Group raised their price objective on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.75.

Cameco Stock Up 1.8%

NYSE:CCJ opened at $88.89 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $88.87 and a 200-day moving average of $77.14. The firm has a market capitalization of $38.70 billion, a PE ratio of 102.17 and a beta of 0.98. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $313.74 million for the quarter, compared to analyst estimates of $531.72 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. Cameco has set its FY 2025 guidance at EPS. Analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be given a dividend of $0.24 per share. This is an increase from Cameco’s previous annual dividend of $0.12. This represents a dividend yield of 25.0%. The ex-dividend date is Monday, December 1st. Cameco’s payout ratio is currently 19.77%.

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.