Griffin Asset Management Inc. Raises Stock Position in Cameco Corporation $CCJ

Griffin Asset Management Inc. boosted its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 905.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,660 shares of the basic materials company’s stock after acquiring an additional 25,810 shares during the period. Griffin Asset Management Inc.’s holdings in Cameco were worth $2,622,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in Cameco during the fourth quarter valued at approximately $25,000. Founders Capital Management purchased a new position in Cameco during the fourth quarter valued at approximately $27,000. Strategic Advocates LLC purchased a new position in Cameco during the third quarter valued at approximately $28,000. Sunbelt Securities Inc. grew its stake in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Delos Wealth Advisors LLC grew its stake in Cameco by 60.0% during the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CCJ shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Glj Research reissued a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus target price of $153.13.

Cameco Price Performance

CCJ stock opened at $104.00 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a one year low of $51.70 and a one year high of $135.24. The stock has a market cap of $45.30 billion, a PE ratio of 96.30, a P/E/G ratio of 1.75 and a beta of 1.04. The firm has a 50 day simple moving average of $113.71 and a two-hundred day simple moving average of $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. On average, analysts predict that Cameco Corporation will post 1.32 EPS for the current fiscal year.

About Cameco

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.