Portland Investment Counsel Inc. Acquires 6,000 Shares of Cameco Co. (NYSE:CCJ)

Portland Investment Counsel Inc. raised its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 50.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the basic materials company’s stock after acquiring an additional 6,000 shares during the quarter. Cameco makes up approximately 0.3% of Portland Investment Counsel Inc.’s investment portfolio, making the stock its 29th largest position. Portland Investment Counsel Inc.’s holdings in Cameco were worth $860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Telemark Asset Management LLC boosted its position in Cameco by 8.3% in the third quarter. Telemark Asset Management LLC now owns 1,300,000 shares of the basic materials company’s stock valued at $62,088,000 after buying an additional 100,000 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in shares of Cameco during the 3rd quarter valued at $1,680,000. Tidal Investments LLC grew its position in Cameco by 15.5% during the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after acquiring an additional 2,683 shares during the last quarter. Swiss National Bank increased its holdings in Cameco by 0.9% in the 3rd quarter. Swiss National Bank now owns 1,314,400 shares of the basic materials company’s stock worth $62,892,000 after purchasing an additional 11,600 shares in the last quarter. Finally, Country Club Bank bought a new position in Cameco in the third quarter valued at about $2,093,000. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $59.47 on Friday. 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’s fifty day simple moving average is $53.36 and its two-hundred day simple moving average is $48.95. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $60.98. The stock has a market capitalization of $25.88 billion, a P/E ratio of 313.00 and a beta of 0.89.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm’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 EPS. As a group, analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given 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 an increase from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is presently 57.89%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Scotiabank lowered their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. One investment 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, Cameco currently has a consensus rating of “Buy” and an average target price 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.