Kayne Anderson Capital Advisors LP Decreases Position in Cameco Co. (NYSE:CCJ)

Kayne Anderson Capital Advisors LP reduced its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 85.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,528 shares of the basic materials company’s stock after selling 162,074 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Cameco were worth $1,362,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cameco by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Capital World Investors lifted its holdings in shares of Cameco by 1.6% in the first quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock valued at $593,524,000 after purchasing an additional 215,741 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after purchasing an additional 202,157 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Cameco by 6.8% during the 2nd quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after purchasing an additional 265,196 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Cameco by 4.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 3,915,086 shares of the basic materials company’s stock worth $192,622,000 after purchasing an additional 176,183 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 0.9 %

NYSE CCJ opened at $53.59 on Monday. The company has a market capitalization of $23.32 billion, a P/E ratio of 282.07 and a beta of 0.89. 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 company’s 50 day simple moving average is $49.73 and its 200 day simple moving average is $48.35. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $58.72.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.40). The company had revenue of $721.00 million for the quarter, compared to analysts’ expectations of $646.83 million. Cameco had a net margin of 4.15% and a return on equity of 3.33%. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. Equities research analysts expect that Cameco Co. will post 0.7 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. Shareholders of record on Wednesday, November 27th will be issued a $0.118 dividend. The ex-dividend date is Wednesday, November 27th. This represents a yield of 0.22%. This is a positive change from Cameco’s previous annual dividend of $0.09. Cameco’s dividend payout ratio (DPR) is 47.37%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CCJ shares. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Glj Research reissued a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. Scotiabank decreased their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.