Avantax Advisory Services Inc. Has $1.52 Million Holdings in Cameco Co. (NYSE:CCJ)

Avantax Advisory Services Inc. increased its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,568 shares of the basic materials company’s stock after purchasing an additional 7,100 shares during the period. Avantax Advisory Services Inc.’s holdings in Cameco were worth $1,520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. AGF Management Ltd. increased its position in shares of Cameco by 54.2% during the fourth quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock valued at $174,433,000 after purchasing an additional 1,193,266 shares during the period. Bridgewater Associates LP increased its position in shares of Cameco by 19.9% during the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock valued at $118,386,000 after purchasing an additional 410,711 shares during the period. Progeny 3 Inc. increased its position in shares of Cameco by 7.5% during the third quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock valued at $108,326,000 after purchasing an additional 159,200 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock valued at $103,968,000 after purchasing an additional 187,512 shares during the period. Finally, Amundi increased its position in shares of Cameco by 1.5% during the fourth quarter. Amundi now owns 2,156,893 shares of the basic materials company’s stock valued at $110,821,000 after purchasing an additional 32,825 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Canada upgraded Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Glj Research increased their price objective on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $43.09 on Wednesday. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55. The firm has a market cap of $18.76 billion, a PE ratio of 153.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The business has a fifty day moving average of $47.40 and a 200-day moving average of $50.07.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, equities research analysts predict that Cameco Co. will post 1.27 EPS for the current fiscal 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.