M&T Bank Corp Sells 2,698 Shares of Cameco Co. (NYSE:CCJ)

M&T Bank Corp lowered its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 36.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,721 shares of the basic materials company’s stock after selling 2,698 shares during the quarter. M&T Bank Corp’s holdings in Cameco were worth $225,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Glenmede Trust Co. NA grew its stake in shares of Cameco by 2.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Cameco by 6.0% during the third quarter. S.A. Mason LLC now owns 3,655 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 206 shares in the last quarter. Silvia Mccoll Wealth Management LLC boosted its holdings in Cameco by 3.9% during the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 210 shares during the last quarter. EdgeRock Capital LLC grew its position in Cameco by 1.7% in the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock worth $654,000 after purchasing an additional 224 shares in the last quarter. Finally, LRI Investments LLC increased its stake in Cameco by 39.0% in the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after buying an additional 234 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $66.56.

Cameco Price Performance

NYSE CCJ opened at $52.91 on Friday. The firm’s 50-day simple moving average is $55.49 and its two-hundred day simple moving average is $49.33. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The company has a market cap of $23.03 billion, a PE ratio of 278.49 and a beta of 0.91.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the previous year, the firm earned $0.24 EPS. The company’s revenue was up 25.4% compared to the same quarter last year. Research analysts predict that Cameco Co. will post 0.51 earnings per share for the current year.

Cameco Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th were paid a $0.118 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a yield of 0.22%. This is an increase from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is currently 57.89%.

About Cameco

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.