Mirae Asset Global Investments Co. Ltd. Increases Holdings in Cameco Corporation $CCJ

Key Points

• Mirae Asset raised its stake in Cameco by 79.4% in Q3 to 249,992 shares (about $20.96M), representing roughly 0.06% of the company.
• Cameco's most recent quarter missed expectations (EPS $0.05 vs. $0.22 est.) with revenue down 14.7% YoY to $313.7M; analysts forecast ~1.27 EPS for the year.
• The company doubled its annual dividend to $0.24/share (paid Dec. 16), while shares trade near $133.59 with a 52‑week range of $35.00–$135.24, a $58.17B market cap and a P/E of 155.34.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 79.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 249,992 shares of the basic materials company's stock after acquiring an additional 110,629 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Cameco worth $20,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Consulate Inc. acquired a new position in Cameco in the third quarter valued at approximately $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock worth $29,000 after buying an additional 182 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of Cameco by 1,029.4% during the 2nd quarter. Trust Co. of Vermont now owns 384 shares of the basic materials company's stock worth $29,000 after buying an additional 350 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Cameco in the 2nd quarter valued at $30,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Cameco in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

Shares of CCJ opened at $133.59 on Friday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The company has a market capitalization of $58.17 billion, a price-to-earnings ratio of 155.34 and a beta of 1.01. The firm has a 50-day simple moving average of $99.89 and a 200-day simple moving average of $88.82. 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 (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results 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 company had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. During the same quarter last year, the firm earned ($0.01) EPS. The business's revenue was down 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CCJ shares. Glj Research reissued a "buy" rating and issued a $99.74 price target on shares of Cameco in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cameco in a report on Monday, December 29th. Sanford C. Bernstein boosted their target price on Cameco from $100.00 to $101.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded Cameco from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cameco currently has a consensus rating of "Buy" and a consensus target price of $121.68.

Cameco Company 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.

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