Moors & Cabot Inc. Increases Stock Holdings in Cameco Corporation (NYSE:CCJ)

Moors & Cabot Inc. increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 9.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,888 shares of the basic materials company’s stock after acquiring an additional 905 shares during the quarter. Moors & Cabot Inc.’s holdings in Cameco were worth $448,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its position in shares of Cameco by 19.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,781 shares of the basic materials company’s stock valued at $708,000 after purchasing an additional 2,226 shares during the period. Franklin Resources Inc. boosted its holdings in Cameco by 37.1% in the 4th quarter. Franklin Resources Inc. now owns 171,612 shares of the basic materials company’s stock worth $8,814,000 after buying an additional 46,440 shares during the last quarter. Geode Capital Management LLC increased its stake in Cameco by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 2,518,655 shares of the basic materials company’s stock worth $130,550,000 after buying an additional 607,041 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Cameco during the fourth quarter valued at approximately $822,000. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Cameco in the fourth quarter valued at approximately $311,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Up 3.1%

CCJ stock opened at $75.21 on Tuesday. The firm has a market cap of $32.75 billion, a PE ratio of 86.45 and a beta of 1.06. Cameco Corporation has a one year low of $35.00 and a one year high of $80.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The firm’s 50 day moving average price is $70.40 and its 200-day moving average price is $54.41.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a return on equity of 8.21% and a net margin of 14.97%. The company’s quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CCJ shares. The Goldman Sachs Group increased their price objective on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upped their target price on shares of Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. Glj Research restated a “buy” rating and set a $75.27 price target on shares of Cameco in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of Cameco from a “hold” rating to a “buy” rating in a report on Saturday. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average target price of $82.65.

About Cameco

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.