Cameco Corporation $CCJ Stock Position Lessened by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 7.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 240,384 shares of the basic materials company’s stock after selling 18,988 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Cameco worth $20,890,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in Cameco during the 2nd quarter valued at $735,498,000. Alps Advisors Inc. grew its holdings in Cameco by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 4,701,559 shares of the basic materials company’s stock worth $407,484,000 after acquiring an additional 1,154,270 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Cameco in the second quarter valued at about $420,346,000. BlackRock Inc. purchased a new position in shares of Cameco in the second quarter valued at about $381,091,000. Finally, Cibc World Market Inc. purchased a new position in shares of Cameco in the second quarter valued at about $354,022,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Up 1.9%

NYSE:CCJ opened at $74.25 on Thursday. The company has a 50-day moving average price of $85.81 and a 200-day moving average price of $102.42. Cameco Corporation has a 12 month low of $66.06 and a 12 month high of $135.24. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 112.51, a P/E/G ratio of 1.84 and a beta of 1.18.

Cameco Announces Dividend

The business also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a C$0.24 dividend. This represents a yield of 22.0%. The ex-dividend date of this dividend is Monday, November 30th. Cameco’s dividend payout ratio is presently 25.76%.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Paradigm Capital assumed coverage on shares of Cameco in a research note on Monday. They set a “moderate buy” rating for the company. Jefferies Financial Group assumed coverage on Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 target price on the stock. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.12.

About Cameco

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.