Balboa Wealth Partners Sells 10,726 Shares of Cameco Co. (NYSE:CCJ)

Balboa Wealth Partners cut its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 69.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,650 shares of the basic materials company’s stock after selling 10,726 shares during the period. Balboa Wealth Partners’ holdings in Cameco were worth $222,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Cameco during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares during the last quarter. Blue Trust Inc. increased its position in Cameco by 68.8% during the 3rd quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 642 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in Cameco in the 1st quarter valued at approximately $87,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 0.9 %

Shares of CCJ stock opened at $53.57 on Friday. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $58.72. 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 stock has a market cap of $23.31 billion, a price-to-earnings ratio of 281.95 and a beta of 0.89. The stock has a 50-day moving average of $49.40 and a 200-day moving average of $48.30.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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 firm had revenue of $721.00 million for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. On average, equities research analysts forecast that Cameco Co. will post 0.69 earnings per share for the current year.

Cameco Increases Dividend

The company also recently announced 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 is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. Cameco’s payout ratio is presently 57.89%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CCJ shares. Scotiabank decreased 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 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. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $66.56.

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.