Hurley Capital LLC Acquires New Position in Cameco Co. (NYSE:CCJ)

Hurley Capital LLC bought a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 500 shares of the basic materials company’s stock, valued at approximately $27,000.

Several other hedge funds have also made changes to their positions in CCJ. Norges Bank purchased a new position in Cameco in the fourth quarter worth approximately $188,595,000. Alliancebernstein L.P. increased its position in shares of Cameco by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock worth $518,443,000 after purchasing an additional 1,196,336 shares during the last quarter. AGF Management Ltd. raised its holdings in Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock valued at $174,433,000 after buying an additional 1,193,266 shares during the period. Segra Capital Management LLC acquired a new position in Cameco in the third quarter valued at about $53,013,000. Finally, Wellington Management Group LLP boosted its stake in Cameco by 35.9% during the fourth quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company’s stock worth $133,151,000 after buying an additional 685,145 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Desjardins initiated coverage on shares of Cameco in a report on Friday. They issued a “buy” rating on the stock. Sanford C. Bernstein assumed coverage on Cameco in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price objective for the company. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Finally, Glj Research raised their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $70.03.

Cameco Stock Down 7.6 %

Cameco stock opened at $37.80 on Friday. The stock’s fifty day moving average is $45.02 and its two-hundred day moving average is $50.32. The stock has a market cap of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $62.55. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

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