Seven Eight Capital LP Takes $679,000 Position in Cameco Co. (NYSE:CCJ)

Seven Eight Capital LP purchased a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 15,682 shares of the basic materials company’s stock, valued at approximately $679,000.

Other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in shares of Cameco by 235.3% in the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock valued at $25,000 after buying an additional 400 shares during the period. Principal Securities Inc. purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $29,000. Sandy Spring Bank purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $43,000. Lindbrook Capital LLC boosted its position in shares of Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 221 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of Cameco by 99.3% during the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. The Goldman Sachs Group increased their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Cameco Stock Down 0.5 %

Cameco stock traded down $0.25 during mid-day trading on Tuesday, reaching $47.36. 2,325,266 shares of the company’s stock were exchanged, compared to its average volume of 4,334,273. The company has a market cap of $20.61 billion, a P/E ratio of 122.08 and a beta of 0.91. Cameco Co. has a twelve month low of $31.58 and a twelve month high of $56.24. The company has a quick ratio of 0.69, a current ratio of 1.42 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $51.68 and a 200-day moving average of $47.77.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Cameco had a return on equity of 4.60% and a net margin of 9.28%. The business had revenue of $470.29 million for the quarter. Sell-side analysts expect that Cameco Co. will post 1.12 EPS for the current year.

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.