Glenmede Trust Co. NA Boosts Position in Cameco Co. (NYSE:CCJ)

Glenmede Trust Co. NA raised its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.1% in the third quarter, Holdings Channel reports. The institutional investor owned 9,149 shares of the basic materials company’s stock after buying an additional 191 shares during the quarter. Glenmede Trust Co. NA’s holdings in Cameco were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bridgewater Associates LP grew its position in Cameco by 19.9% during the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock worth $118,386,000 after buying an additional 410,711 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after buying an additional 187,512 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Cameco during the third quarter worth about $15,209,000. Canton Hathaway LLC grew its position in Cameco by 18.0% during the third quarter. Canton Hathaway LLC now owns 9,230 shares of the basic materials company’s stock worth $441,000 after buying an additional 1,410 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Cameco by 548.7% during the third quarter. Brown Brothers Harriman & Co. now owns 1,784 shares of the basic materials company’s stock worth $85,000 after buying an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of several recent analyst reports. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Glj Research reiterated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research report on Wednesday, August 14th. Scotiabank cut their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

Shares of Cameco stock opened at $59.61 on Thursday. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $61.05. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 313.73 and a beta of 0.91. The company has a fifty day moving average of $54.11 and a 200-day moving average of $49.12. 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 analysts’ consensus estimates of $0.39 by ($0.40). The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. Cameco’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. Equities research analysts expect that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.118 per share. This represents a dividend yield of 0.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio is 63.16%.

Cameco 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.