Patten & Patten Inc. TN Boosts Holdings in Cameco Co. (NYSE:CCJ)

Patten & Patten Inc. TN increased its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 38.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,685 shares of the basic materials company’s stock after buying an additional 2,680 shares during the period. Patten & Patten Inc. TN’s holdings in Cameco were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its holdings in Cameco by 8.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,910 shares of the basic materials company’s stock worth $355,000 after buying an additional 565 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Cameco by 25.3% in the fourth quarter. Natixis Advisors LLC now owns 113,765 shares of the basic materials company’s stock worth $5,846,000 after purchasing an additional 22,949 shares in the last quarter. Intact Investment Management Inc. increased its stake in shares of Cameco by 17.6% in the fourth quarter. Intact Investment Management Inc. now owns 246,880 shares of the basic materials company’s stock worth $12,692,000 after purchasing an additional 37,000 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new position in shares of Cameco in the fourth quarter worth about $1,439,000. Finally, Wellington Shields Capital Management LLC increased its stake in shares of Cameco by 1,898.3% in the fourth quarter. Wellington Shields Capital Management LLC now owns 291,745 shares of the basic materials company’s stock worth $14,993,000 after purchasing an additional 277,145 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday, March 11th. Glj Research lifted their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus initiated coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Price Performance

Shares of NYSE:CCJ opened at $42.44 on Monday. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $62.55. The stock has a market cap of $18.47 billion, a P/E ratio of 151.55 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $47.80 and a 200 day moving average of $50.03.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. As a group, sell-side analysts forecast 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.