Moors & Cabot Inc. bought a new stake in Cameco Corp (NYSE:CCJ) (TSE:CCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,564 shares of the basic materials company’s stock, valued at approximately $188,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CCJ. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Cameco in the 4th quarter worth $57,695,000. Norges Bank acquired a new stake in shares of Cameco in the 4th quarter worth $35,531,000. Bank of Montreal Can increased its stake in shares of Cameco by 95.8% in the 1st quarter. Bank of Montreal Can now owns 6,224,637 shares of the basic materials company’s stock worth $73,389,000 after acquiring an additional 3,045,011 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Cameco in the 4th quarter worth $17,365,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Cameco by 40.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,986,048 shares of the basic materials company’s stock worth $45,178,000 after acquiring an additional 1,147,000 shares during the last quarter. Hedge funds and other institutional investors own 53.98% of the company’s stock.
CCJ has been the subject of a number of recent research reports. Zacks Investment Research raised Cameco from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Thursday, January 31st. Royal Bank of Canada reaffirmed a “hold” rating on shares of Cameco in a research note on Thursday, May 2nd. Raymond James reaffirmed a “buy” rating on shares of Cameco in a research note on Thursday, May 2nd. Finally, TD Securities downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Cameco presently has a consensus rating of “Hold” and an average target price of $14.67.
Shares of Cameco stock opened at $10.04 on Thursday. Cameco Corp has a 12 month low of $9.39 and a 12 month high of $13.04. The stock has a market cap of $4.03 billion, a P/E ratio of 25.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.38 and a quick ratio of 1.84.
Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Wednesday, May 1st. The basic materials company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). Cameco had a net margin of 4.72% and a return on equity of 3.13%. The firm had revenue of $297.50 million for the quarter, compared to analysts’ expectations of $392.93 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue was down 32.3% compared to the same quarter last year. As a group, equities analysts expect that Cameco Corp will post 0.03 EPS for the current fiscal year.
Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.
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