Cameco Corporation $CCJ Shares Newly Bought by Keybank National Association OH

Key Points

• Keybank National Association OH bought 4.06 million Cameco shares in the third quarter, worth about $352.3 million. The position represents roughly 0.93% of the company and 1.1% of Keybank’s portfolio.
• Cameco shares opened at $72.87, down 3.3%, and were well below their 50-day and 200-day moving averages; the stock’s 12-month range is $66.06 to $135.24.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $148.12. The company also declared an annual C$0.24 dividend.

Keybank National Association OH purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,064,571 shares of the basic materials company's stock, valued at approximately $352,276,000. Cameco makes up about 1.1% of Keybank National Association OH's portfolio, making the stock its 18th largest holding. Keybank National Association OH owned approximately 0.93% of Cameco at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC lifted its position in Cameco by 0.8% during the second quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company's stock valued at $1,540,000 after purchasing an additional 125 shares during the last quarter. Novem Group increased its holdings in shares of Cameco by 5.1% in the 3rd quarter. Novem Group now owns 2,854 shares of the basic materials company's stock worth $247,000 after buying an additional 138 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Cameco by 9.3% in the 1st quarter. Bessemer Group Inc. now owns 1,763 shares of the basic materials company's stock worth $192,000 after buying an additional 150 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Cameco by 4.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,227 shares of the basic materials company's stock worth $329,000 after buying an additional 150 shares during the last quarter. Finally, Signature Equity Partners LLC raised its position in shares of Cameco by 55.8% during the 3rd quarter. Signature Equity Partners LLC now owns 444 shares of the basic materials company's stock valued at $38,000 after buying an additional 159 shares in the last quarter. Institutional investors own 70.21% of the company's stock.

Cameco Stock Down 3.3%

Shares of NYSE CCJ opened at $72.87 on Wednesday. The firm has a fifty day simple moving average of $86.25 and a two-hundred day simple moving average of $102.67. Cameco Corporation has a 12 month low of $66.06 and a 12 month high of $135.24. The company has a current ratio of 2.55, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $31.74 billion, a PE ratio of 110.42, a price-to-earnings-growth ratio of 1.83 and a beta of 1.18.

Cameco Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a C$0.24 dividend. The ex-dividend date is Monday, November 30th. This represents a dividend yield of 22.0%. Cameco's dividend payout ratio is presently 25.76%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCJ shares. Weiss Ratings raised shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Zacks Research raised Cameco from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 3rd. Jefferies Financial Group began coverage on Cameco in a research report on Thursday, September 3rd. They set a "buy" rating and a $138.00 price target on the stock. Truist Financial lowered their price target on Cameco from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Finally, Wall Street Zen lowered Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Cameco currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.12.

About Cameco

Cameco is a Canadian uranium company involved in the exploration, mining, milling, refining and conversion of uranium. Its operations include major uranium assets in Saskatchewan, and it has an interest in the Inkai uranium operation in Kazakhstan. The company supplies uranium and related products to nuclear energy producers around the world. Cameco also provides nuclear fuel services, including uranium conversion and the manufacture of fuel bundles for CANDU reactors. In addition, it owns a 49% interest in Westinghouse Electric Company, a supplier of nuclear power plant technologies, services and fuel.

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