Cameco Co. (NYSE:CCJ) Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 45.1% during the first quarter, HoldingsChannel.com reports. The fund owned 493,792 shares of the basic materials company’s stock after acquiring an additional 153,512 shares during the period. 1832 Asset Management L.P.’s holdings in Cameco were worth $21,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC acquired a new stake in shares of Cameco in the fourth quarter worth approximately $3,956,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cameco by 6.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock worth $581,558,000 after buying an additional 869,404 shares during the last quarter. Bornite Capital Management LP acquired a new position in Cameco during the fourth quarter worth $6,590,000. Eaton Financial Holdings Company LLC acquired a new position in Cameco during the fourth quarter worth $1,327,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Cameco during the first quarter worth $295,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of research analyst reports. Bank of America lifted their target price on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group increased their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Cameco Price Performance

Shares of CCJ traded up $0.61 during mid-day trading on Friday, hitting $45.19. The company’s stock had a trading volume of 3,115,481 shares, compared to its average volume of 2,980,368. The firm has a 50-day simple moving average of $51.30 and a 200 day simple moving average of $47.81. The firm has a market capitalization of $19.67 billion, a P/E ratio of 115.87 and a beta of 0.91. Cameco Co. has a 1-year low of $31.58 and a 1-year high of $56.24. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share 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 company had revenue of $470.29 million during the quarter. Analysts predict that Cameco Co. will post 1.12 EPS for the current fiscal year.

About Cameco

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.