Wexford Capital LP Makes New Investment in Cameco Co. (NYSE:CCJ)

Wexford Capital LP bought a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the third quarter, Holdings Channel reports. The fund bought 6,372 shares of the basic materials company’s stock, valued at approximately $304,000.

A number of other hedge funds also recently made changes to their positions in CCJ. Thurston Springer Miller Herd & Titak Inc. increased its stake in Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Pingora Partners LLC purchased a new stake in Cameco during the third quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its stake in shares of Cameco by 84.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 351 shares during the period. LRI Investments LLC raised its position in shares of Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 234 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 550 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $61.05 on Friday. The company’s 50 day simple moving average is $54.64 and its 200-day simple moving average is $49.25. The firm has a market cap of $26.57 billion, a PE ratio of 321.32 and a beta of 0.91. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to analyst estimates of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, equities analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be given a $0.118 dividend. This represents a dividend yield of 0.22%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s payout ratio is currently 57.89%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCJ. Scotiabank lowered their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. Finally, National Bank Financial raised shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Profile

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.