Navellier & Associates Inc. Acquires Shares of 7,944 Cameco Corporation $CCJ

Navellier & Associates Inc. acquired a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,944 shares of the basic materials company’s stock, valued at approximately $666,000.

A number of other hedge funds also recently modified their holdings of CCJ. Financial Consulate Inc. acquired a new position in Cameco in the 3rd quarter valued at about $25,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 182 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of Cameco in the second quarter valued at approximately $35,000. Creative Financial Designs Inc. ADV grew its position in shares of Cameco by 936.2% in the second quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 440 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Cameco during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Down 2.2%

Shares of NYSE CCJ opened at $118.02 on Wednesday. The stock has a market capitalization of $51.39 billion, a P/E ratio of 137.23 and a beta of 0.99. The stock’s fifty day moving average is $104.96 and its 200 day moving average is $91.25. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.99.

Analysts Set New Price Targets

Several analysts recently issued reports on CCJ shares. Glj Research restated a “buy” rating and issued a $99.74 price target on shares of Cameco in a research note on Wednesday, December 3rd. Zacks Research raised Cameco from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 14th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. UBS Group started coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target on the stock. Finally, National Bankshares reissued an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cameco presently has an average rating of “Buy” and an average price target of $131.39.

Cameco Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.