Migdal Insurance & Financial Holdings Ltd. Buys 754,693 Shares of Cameco Corporation $CCJ

Key Points

• Migdal Insurance & Financial Holdings acquired 754,693 Cameco shares in the third quarter, worth about $65.4 million and representing roughly 0.17% of the company.
• Analyst sentiment is broadly positive: 12 analysts rate Cameco Buy and four rate it Hold, for a “Moderate Buy” consensus and an average price target of $148.12.
• Cameco shares recently traded at $70.71, well below their 52-week high of $135.24. The company also declared an annual dividend of C$0.24 per share.

Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 754,693 shares of the basic materials company's stock, valued at approximately $65,409,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.17% of Cameco at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CX Institutional raised its stake in Cameco by 2,181.2% in the 3rd quarter. CX Institutional now owns 365 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 349 shares during the period. Signature Equity Partners LLC lifted its holdings in Cameco by 55.8% during the third quarter. Signature Equity Partners LLC now owns 444 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 159 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Cameco during the first quarter valued at about $39,000. Dunhill Financial LLC purchased a new stake in Cameco during the second quarter valued at about $39,000. Finally, Trust Co. of Vermont bought a new position in Cameco during the second quarter worth about $39,000. Institutional investors own 70.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Paradigm Capital initiated coverage on shares of Cameco in a research report on Monday, November 9th. They issued a "moderate buy" rating on the stock. Weiss Ratings upgraded shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Barclays dropped their price target on shares of Cameco from $95.00 to $89.00 and set an "equal weight" rating on the stock in a research note on Monday, November 2nd. Finally, Zacks Research raised shares of Cameco from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 3rd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.12.

Cameco Stock Performance

Shares of NYSE CCJ traded down $1.07 during mid-day trading on Friday, hitting $70.71. The company had a trading volume of 3,265,589 shares, compared to its average volume of 4,041,181. The company has a market capitalization of $30.80 billion, a price-to-earnings ratio of 107.14, a P/E/G ratio of 1.81 and a beta of 1.18. Cameco Corporation has a 1 year low of $66.06 and a 1 year 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 stock's 50-day moving average price is $84.72 and its 200-day moving average price is $101.90.

Cameco Dividend Announcement

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

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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