Ipswich Investment Management Co. Inc. Purchases Shares of 20,160 Cameco Co. (NYSE:CCJ)

Ipswich Investment Management Co. Inc. acquired a new position in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,160 shares of the basic materials company’s stock, valued at approximately $963,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCJ. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Cameco by 71.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock valued at $27,000 after buying an additional 238 shares during the period. LRI Investments LLC acquired a new stake in Cameco in the first quarter worth $26,000. JFS Wealth Advisors LLC increased its stake in Cameco by 130.6% in the third quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 550 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Cameco by 68.8% during the third quarter. Blue Trust Inc. now owns 1,575 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 642 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Cameco during the first quarter valued at about $87,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 0.9 %

CCJ opened at $53.57 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market capitalization of $23.31 billion, a P/E ratio of 281.95 and a beta of 0.89. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $58.72. The company’s 50-day moving average is $49.73 and its 200 day moving average is $48.33.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.39 by ($0.40). The firm had revenue of $721.00 million for the quarter, compared to the consensus estimate of $646.83 million. Cameco had a return on equity of 3.33% and a net margin of 4.15%. Cameco’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS. Research analysts expect that Cameco Co. will post 0.69 earnings per share for the current fiscal year.

Cameco Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CCJ. Scotiabank decreased their target price on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Finally, Glj Research reaffirmed a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. One research 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 MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Company 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.