Bedell Frazier Investment Counselling LLC Makes New $1.96 Million Investment in Cameco Co. (NYSE:CCJ)

Bedell Frazier Investment Counselling LLC purchased a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 41,052 shares of the basic materials company’s stock, valued at approximately $1,961,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in Cameco in the second quarter valued at approximately $73,125,000. CIBC Asset Management Inc lifted its stake in shares of Cameco by 58.0% in the 3rd quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the last quarter. M&G PLC bought a new stake in Cameco in the third quarter worth $66,227,000. King Luther Capital Management Corp acquired a new position in Cameco during the second quarter worth $32,740,000. Finally, Van ECK Associates Corp raised its holdings in Cameco by 48.1% during 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 in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CCJ shares. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cameco presently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

Shares of CCJ stock opened at $60.11 on Monday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 316.39 and a beta of 0.89. The firm’s 50 day moving average is $51.66 and its 200-day moving average is $48.65. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $60.98.

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 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 firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. Sell-side analysts forecast that Cameco Co. will post 0.7 EPS for the current fiscal year.

Cameco Increases Dividend

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

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.