Abbington Investment Group Invests $6.51 Million in Cameco Corporation $CCJ

Key Points

• Abbington Investment Group bought a new stake of 77,585 Cameco shares valued at about $6.51 million, making CCJ roughly 5.6% of its portfolio and its fourth-largest holding.
• Cameco missed quarterly estimates, reporting $0.05 EPS vs. $0.22 expected and revenue of $313.7 million (down 14.7% year-over-year vs. a $531.7 million consensus).
• The company doubled its annual dividend to $0.24 per share (paid Dec. 16) with a 19.8% payout ratio, while analysts' consensus is a "Moderate Buy" with an average price target of $121.68.

Abbington Investment Group bought a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 77,585 shares of the basic materials company's stock, valued at approximately $6,506,000. Cameco accounts for approximately 5.6% of Abbington Investment Group's investment portfolio, making the stock its 4th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caldwell Trust Co bought a new position in shares of Cameco in the 3rd quarter valued at about $113,000. Moran Wealth Management LLC boosted its holdings in shares of Cameco by 9.4% in the 3rd quarter. Moran Wealth Management LLC now owns 37,179 shares of the basic materials company's stock worth $3,118,000 after purchasing an additional 3,196 shares during the period. Gunderson Capital Management Inc. boosted its holdings in shares of Cameco by 267.1% in the 3rd quarter. Gunderson Capital Management Inc. now owns 65,175 shares of the basic materials company's stock worth $5,466,000 after purchasing an additional 47,423 shares during the period. CoreCap Advisors LLC increased its position in shares of Cameco by 162.8% during the 3rd quarter. CoreCap Advisors LLC now owns 1,238 shares of the basic materials company's stock valued at $104,000 after purchasing an additional 767 shares during the last quarter. Finally, North Star Investment Management Corp. raised its holdings in Cameco by 59.5% during the 3rd quarter. North Star Investment Management Corp. now owns 496 shares of the basic materials company's stock valued at $42,000 after buying an additional 185 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $105.71 on Friday. The firm's 50 day simple moving average is $91.53 and its 200-day simple moving average is $84.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99. Cameco Corporation has a one year low of $35.00 and a one year high of $110.15. The firm has a market cap of $46.03 billion, a PE ratio of 122.92 and a beta of 1.01.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to the consensus estimate of $531.72 million. Cameco had a return on equity of 8.58% and a net margin of 15.24%.The firm's revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. As a group, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, December 16th. Stockholders of record on Monday, December 1st were paid a dividend of $0.24 per share. This is an increase from Cameco's previous annual dividend of $0.12. This represents a dividend yield of 27.0%. The ex-dividend date was Monday, December 1st. Cameco's payout ratio is 19.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on CCJ. Weiss Ratings reiterated a "hold (c-)" rating on shares of Cameco in a research report on Monday, December 29th. Royal Bank Of Canada cut their price target on shares of Cameco from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, November 13th. UBS Group assumed coverage on shares of Cameco in a research report on Monday, November 10th. They issued a "neutral" rating and a $140.00 price objective on the stock. Wall Street Zen lowered Cameco from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. Finally, Sanford C. Bernstein increased their price target on Cameco from $100.00 to $101.00 and gave the stock an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco currently has an average rating of "Moderate Buy" and an average price target of $121.68.

Cameco Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.