Van ECK Associates Corp Purchases 849,188 Shares of Cameco Corporation $CCJ

Van ECK Associates Corp increased its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 15.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,292,995 shares of the basic materials company’s stock after purchasing an additional 849,188 shares during the quarter. Van ECK Associates Corp’s holdings in Cameco were worth $575,771,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors lifted its stake in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after purchasing an additional 85,762 shares during the last quarter. Norges Bank purchased a new stake in shares of Cameco during the 4th quarter worth $443,265,000. Finally, TD Asset Management Inc lifted its stake in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of research analyst reports. Barclays initiated coverage on Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target for the company. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Glj Research reaffirmed a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Stock Up 2.0%

Shares of CCJ opened at $100.94 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $64.84 and a 12 month high of $135.24. The stock’s 50 day moving average is $113.12 and its two-hundred day moving average is $109.09. The firm has a market cap of $43.96 billion, a P/E ratio of 93.47, a PEG ratio of 1.68 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. Analysts predict that Cameco Corporation will post 1.31 earnings per share 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.