Migdal Insurance & Financial Holdings Ltd. Makes New Investment in Cameco Corporation $CCJ

Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 370,000 shares of the basic materials company’s stock, valued at approximately $31,028,000. Migdal Insurance & Financial Holdings Ltd. owned 0.08% of Cameco at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCJ. Bison Wealth LLC boosted its position in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Cameco by 74.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 14,310 shares of the basic materials company’s stock worth $1,051,000 after purchasing an additional 6,127 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $115.74 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average price is $94.20 and its 200 day moving average price is $86.40. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $118.54. The firm has a market cap of $50.40 billion, a P/E ratio of 134.58 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $313.74 million during the quarter, compared to analysts’ expectations of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.01) EPS. On average, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Tuesday, December 16th. Investors of record on Monday, December 1st were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 1st. This is a positive change from Cameco’s previous annual dividend of $0.12. This represents a yield of 27.0%. Cameco’s dividend payout ratio (DPR) is 19.77%.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped 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. UBS Group started coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a report on Monday, December 29th. Scotiabank reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $121.68.

Cameco Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long?term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.