PCJ Investment Counsel Ltd. Has $1.71 Million Stock Position in Cameco Corporation $CCJ

PCJ Investment Counsel Ltd. increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 12.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,950 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Cameco were worth $1,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. MetLife Investment Management LLC acquired a new position in Cameco in the 1st quarter worth approximately $2,131,000. TD Asset Management Inc lifted its holdings in shares of Cameco by 3.7% in the second quarter. TD Asset Management Inc now owns 2,133,725 shares of the basic materials company’s stock valued at $158,141,000 after purchasing an additional 77,081 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of Cameco by 50.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 42,487 shares of the basic materials company’s stock worth $1,750,000 after buying an additional 14,154 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in shares of Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company’s stock valued at $1,663,000 after buying an additional 11,879 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of Cameco by 74.7% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 48,992 shares of the basic materials company’s stock valued at $2,017,000 after buying an additional 20,947 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Up 2.3%

Shares of NYSE CCJ opened at $92.30 on Friday. The business has a 50 day simple moving average of $86.73 and a 200 day simple moving average of $73.18. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $110.15. The stock has a market cap of $40.19 billion, a price-to-earnings ratio of 106.09 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.24 per share. This is a positive change from Cameco’s previous annual dividend of $0.12. The ex-dividend date is Monday, December 1st. This represents a dividend yield of 25.0%. Cameco’s dividend payout ratio (DPR) is currently 13.95%.

Analyst Ratings Changes

Several brokerages recently issued reports on CCJ. The Goldman Sachs Group increased their price objective on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial increased their price target on shares of Cameco to $150.00 in a research report on Wednesday, October 29th. TD Securities reaffirmed a “buy” rating on shares of Cameco in a research report on Tuesday, August 5th. Scotiabank reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada lifted their target price on shares of Cameco from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Cameco has an average rating of “Buy” and an average price target of $102.61.

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.