Keybank National Association OH Sells 474,879 Shares of Cameco Corporation $CCJ

Keybank National Association OH reduced its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,057,039 shares of the basic materials company’s stock after selling 474,879 shares during the quarter. Cameco comprises 1.5% of Keybank National Association OH’s holdings, making the stock its 15th biggest position. Keybank National Association OH’s holdings in Cameco were worth $424,083,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Cameco during the 3rd quarter worth approximately $432,000. AE Wealth Management LLC boosted its stake in Cameco by 61.0% in the third quarter. AE Wealth Management LLC now owns 8,804 shares of the basic materials company’s stock valued at $738,000 after acquiring an additional 3,337 shares during the last quarter. Kapitalo Investimentos Ltda grew its holdings in Cameco by 2.6% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 88,801 shares of the basic materials company’s stock worth $7,447,000 after acquiring an additional 2,248 shares during the period. Activest Wealth Management bought a new stake in shares of Cameco during the 3rd quarter valued at $91,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCJ. Glj Research reaffirmed a “buy” rating and set a $99.74 price objective on shares of Cameco in a research note on Wednesday, December 3rd. Wall Street Zen lowered Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Sanford C. Bernstein increased their price target on shares of Cameco from $100.00 to $101.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada decreased their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, November 13th. Finally, Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $121.68.

Cameco Price Performance

Shares of CCJ opened at $123.35 on Friday. The stock has a 50 day simple moving average of $100.77 and a 200 day simple moving average of $89.15. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. The firm has a market capitalization of $53.71 billion, a PE ratio of 143.43 and a beta of 1.01.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). Cameco had a net margin of 15.24% and a return on equity of 8.58%. The company had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Increases Dividend

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

About Cameco

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.