MGB Wealth Management LLC Purchases 2,000 Shares of Cameco Co. (NYSE:CCJ)

MGB Wealth Management LLC lifted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 29.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,870 shares of the basic materials company’s stock after buying an additional 2,000 shares during the period. MGB Wealth Management LLC’s holdings in Cameco were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CCJ. Massachusetts Financial Services Co. MA bought a new stake in shares of Cameco in the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc boosted its stake in shares of 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 during the period. M&G PLC bought a new stake in shares of Cameco in the third quarter valued at approximately $66,227,000. King Luther Capital Management Corp bought a new stake in shares of Cameco in the second quarter valued at approximately $32,740,000. Finally, Van ECK Associates Corp boosted its stake in shares of Cameco by 48.1% in the third quarter. Van ECK Associates Corp now owns 1,584,822 shares of the basic materials company’s stock valued at $75,691,000 after buying an additional 515,046 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Down 1.3 %

Shares of NYSE:CCJ opened at $60.11 on Friday. The company has a fifty day moving average of $51.66 and a 200-day moving average of $48.69. The company has a market capitalization of $26.16 billion, a PE ratio of 316.39 and a beta of 0.89. 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 Co. has a 52-week low of $35.43 and a 52-week high of $60.98.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.15% and a return on equity of 3.33%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. On average, equities analysts predict that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a $0.118 dividend. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s dividend payout ratio is presently 47.37%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank lowered their price objective 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, Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $66.56.

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.