Deepwater Asset Management LLC Buys New Stake in Cameco Corporation $CCJ

Deepwater Asset Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 53,390 shares of the basic materials company’s stock, valued at approximately $4,885,000. Cameco makes up about 1.4% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Capital World Investors grew its holdings in shares of Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after purchasing an additional 85,762 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Cameco in the fourth quarter valued at $443,265,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on CCJ. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada lifted their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Up 0.1%

NYSE CCJ opened at $103.52 on Monday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $113.70 and a two-hundred day moving average of $108.65. The firm has a market capitalization of $45.09 billion, a price-to-earnings ratio of 95.85, a PEG ratio of 1.75 and a beta of 0.99. Cameco Corporation has a 52 week low of $59.25 and a 52 week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The company 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%. Cameco’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. On average, analysts predict that Cameco Corporation will post 1.31 earnings per share for the current year.

Cameco Company 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.