Concentric Capital Strategies LP Sells 98,050 Shares of Cameco Co. (NYSE:CCJ)

Concentric Capital Strategies LP lowered its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 72.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 37,609 shares of the basic materials company’s stock after selling 98,050 shares during the period. Concentric Capital Strategies LP’s holdings in Cameco were worth $1,796,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of 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 worth $27,000 after acquiring an additional 238 shares during the period. First Horizon Advisors Inc. lifted its holdings in Cameco by 84.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares in the last quarter. LRI Investments LLC boosted 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 worth $41,000 after purchasing an additional 234 shares during the period. JFS Wealth Advisors LLC grew its holdings in Cameco by 130.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 971 shares of the basic materials company’s stock valued at $46,000 after buying an additional 550 shares in the last quarter. Finally, Stone House Investment Management LLC raised its position in shares of Cameco by 1,360.0% during the third quarter. Stone House Investment Management LLC now owns 1,022 shares of the basic materials company’s stock valued at $49,000 after buying an additional 952 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 1.0 %

Shares of NYSE:CCJ opened at $58.85 on Tuesday. The business’s 50 day moving average is $53.62 and its 200 day moving average is $49.00. The stock has a market cap of $25.61 billion, a P/E ratio of 309.71 and a beta of 0.89. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $61.05. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly 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). Cameco had a net margin of 4.15% and a return on equity of 3.33%. The firm had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis. Sell-side analysts predict that Cameco Co. will post 0.51 EPS for the current year.

Cameco Increases Dividend

The business also recently declared 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%. This is a positive change from Cameco’s previous annual dividend of $0.09. The ex-dividend date is Wednesday, November 27th. Cameco’s payout ratio is presently 57.89%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CCJ shares. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank dropped their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Glj Research reissued a “buy” rating and set a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. One 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. Based on data from MarketBeat, Cameco currently has an average rating of “Buy” and an average target price 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.