Cameco Co. (NYSE:CCJ) Shares Sold by Covea Finance

Covea Finance cut its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,090,586 shares of the basic materials company’s stock after selling 62,965 shares during the quarter. Cameco makes up approximately 2.5% of Covea Finance’s portfolio, making the stock its 9th largest holding. Covea Finance’s holdings in Cameco were worth $56,033,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Cameco by 71.5% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. Pingora Partners LLC purchased a new stake in shares of Cameco in the third quarter valued at $33,000. First Horizon Advisors Inc. boosted its stake in shares of Cameco by 84.2% during the third quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Cameco during the 3rd quarter worth about $38,000. Finally, JFS Wealth Advisors LLC raised its stake in Cameco by 130.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $49.08 on Wednesday. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $62.55. The company’s 50 day simple moving average is $54.66 and its 200 day simple moving average is $49.23. The stock has a market capitalization of $21.37 billion, a PE ratio of 258.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The company had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. As a group, sell-side analysts expect that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.118 per share. The ex-dividend date was Wednesday, November 27th. This represents a dividend yield of 0.22%. This is a boost from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is presently 63.16%.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average price target of $66.56.

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.