Cameco Co. (NYSE:CCJ) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC grew its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,579 shares of the basic materials company’s stock after acquiring an additional 6,284 shares during the quarter. NewEdge Advisors LLC’s holdings in Cameco were worth $5,940,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after purchasing an additional 1,811,876 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Cameco by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after acquiring an additional 270,102 shares during the last quarter. Alliancebernstein L.P. grew its position in Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the period. Norges Bank acquired a new stake in Cameco during the fourth quarter worth about $188,595,000. Finally, AGF Management Ltd. raised its holdings in shares of Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock worth $174,433,000 after purchasing an additional 1,193,266 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. Desjardins began coverage on shares of Cameco in a research note on Friday, April 4th. They issued a “buy” rating on the stock. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, Glj Research upped their target price on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Trading Down 0.4 %

NYSE:CCJ opened at $41.12 on Friday. Cameco Co. has a one year low of $35.00 and a one year high of $62.55. The business’s 50-day simple moving average is $42.67 and its 200 day simple moving average is $49.74. 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 stock has a market cap of $17.90 billion, a price-to-earnings ratio of 146.84 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. As a group, sell-side analysts predict that Cameco Co. will post 1.27 earnings per share 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.