Cibc World Market Inc. Sells 488,893 Shares of Cameco Co. (NYSE:CCJ)

Cibc World Market Inc. trimmed its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 13.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,156,957 shares of the basic materials company’s stock after selling 488,893 shares during the quarter. Cibc World Market Inc.’s holdings in Cameco were worth $162,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after buying an additional 1,386,639 shares in the last quarter. Bridgewater Associates LP increased its holdings in Cameco by 19.9% in the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after buying an additional 410,711 shares in the last quarter. Progeny 3 Inc. increased its holdings in Cameco by 7.5% in the third quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock valued at $108,326,000 after buying an additional 159,200 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Cameco by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock valued at $103,968,000 after buying an additional 187,512 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after purchasing an additional 664,828 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $66.56.

Cameco Stock Up 0.3 %

Shares of NYSE CCJ opened at $50.22 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $62.55. The firm has a 50-day moving average price of $54.20 and a 200 day moving average price of $49.33. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of 264.32 and a beta of 0.95.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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). The company had revenue of $721.00 million during the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Cameco Co. will post 0.47 EPS for the current fiscal year.

Cameco Increases Dividend

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

About Cameco

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.