Cameco Corporation $CCJ is Old West Investment Management LLC’s 5th Largest Position

Old West Investment Management LLC trimmed its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,428 shares of the basic materials company’s stock after selling 13,553 shares during the quarter. Cameco accounts for approximately 4.0% of Old West Investment Management LLC’s investment portfolio, making the stock its 5th largest holding. Old West Investment Management LLC’s holdings in Cameco were worth $17,479,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Cameco in the 2nd quarter worth about $341,736,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Cameco by 1,428.6% during the second quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock valued at $72,505,000 after acquiring an additional 914,300 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Cameco in the second quarter valued at approximately $66,781,000. Finally, Fullerton Fund Management Co Ltd. boosted its holdings in shares of Cameco by 3,586.0% in the second quarter. Fullerton Fund Management Co Ltd. now owns 762,380 shares of the basic materials company’s stock valued at $56,591,000 after purchasing an additional 741,697 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCJ shares. National Bankshares reaffirmed an “outperform” rating on shares of Cameco in a research report on Thursday, November 6th. Scotiabank restated an “outperform” rating on shares of Cameco in a research note on Wednesday, October 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday. UBS Group assumed coverage on shares of Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 target price on the stock. Finally, Zacks Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $131.39.

Cameco Trading Up 4.0%

NYSE CCJ opened at $113.66 on Friday. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The company has a 50 day moving average price of $103.70 and a 200 day moving average price of $90.52. The company has a quick ratio of 1.85, a current ratio of 2.99 and a debt-to-equity ratio of 0.15. The firm has a market cap of $49.49 billion, a PE ratio of 132.16 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, November 5th. The basic materials company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.17). The firm had revenue of $313.74 million during the quarter, compared to analyst estimates of $531.72 million. Cameco had a net margin of 15.24% and a return on equity of 8.58%. Cameco’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Company Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.