Skandinaviska Enskilda Banken AB publ Acquires New Stake in Cameco Corporation (NYSE:CCJ)

Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 80,000 shares of the basic materials company’s stock, valued at approximately $3,293,000.

A number of other hedge funds have also made changes to their positions in CCJ. Hurley Capital LLC bought a new position in shares of Cameco in the fourth quarter valued at $27,000. Copia Wealth Management bought a new position in shares of Cameco in the fourth quarter valued at $39,000. Ameriflex Group Inc. bought a new position in shares of Cameco in the fourth quarter valued at $40,000. CoreCap Advisors LLC increased its holdings in shares of Cameco by 8,363.6% in the fourth quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company’s stock valued at $48,000 after buying an additional 920 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Cameco by 315.2% in the first quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company’s stock valued at $51,000 after buying an additional 933 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CCJ shares. Desjardins started coverage on Cameco in a report on Friday, April 4th. They issued a “buy” rating on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, June 18th. UBS Group reissued a “buy” rating on shares of Cameco in a research note on Tuesday, June 10th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Cameco presently has an average rating of “Buy” and a consensus target price of $80.65.

Cameco Stock Down 0.6%

CCJ stock opened at $79.12 on Tuesday. The firm has a market cap of $34.45 billion, a PE ratio of 197.80 and a beta of 1.03. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $80.06. The company has a fifty day simple moving average of $68.63 and a 200 day simple moving average of $53.67.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Cameco Company 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.