Merrion Investment Management Co LLC Cuts Stock Holdings in Cameco Co. (NYSE:CCJ)

Merrion Investment Management Co LLC lowered its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 235,450 shares of the basic materials company’s stock after selling 250 shares during the period. Cameco accounts for about 8.4% of Merrion Investment Management Co LLC’s holdings, making the stock its 2nd biggest position. Merrion Investment Management Co LLC owned approximately 0.05% of Cameco worth $12,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. New England Research & Management Inc. bought a new position in Cameco in the fourth quarter worth approximately $312,000. Parsons Capital Management Inc. RI bought a new position in shares of Cameco in the fourth quarter valued at approximately $1,538,000. Union Bancaire Privee UBP SA bought a new stake in Cameco during the fourth quarter worth $1,420,000. Blue Trust Inc. lifted its holdings in Cameco by 31.9% during the fourth quarter. Blue Trust Inc. now owns 2,077 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 502 shares during the period. Finally, Drive Wealth Management LLC bought a new stake in Cameco during the fourth quarter worth $223,000. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $50.14 on Thursday. The stock has a market cap of $21.83 billion, a PE ratio of 263.90 and a beta of 0.95. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The stock has a fifty day moving average of $54.35 and a 200-day moving average of $49.32.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). Cameco had a return on equity of 3.33% and a net margin of 4.15%. The business had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities research analysts anticipate that Cameco Co. will post 0.47 earnings per share for the current year.

Cameco Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus 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.