Icon Advisers Inc. Co. Buys 9,000 Shares of Cameco Corporation $CCJ

Icon Advisers Inc. Co. grew its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 22.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,000 shares of the basic materials company’s stock after buying an additional 9,000 shares during the quarter. Cameco accounts for 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 20th biggest position. Icon Advisers Inc. Co.’s holdings in Cameco were worth $5,430,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CCJ. Vanguard Group Inc. raised its position in Cameco by 1.5% during 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 boosted its holdings in shares of Cameco by 0.3% in 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 in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Cameco by 15.6% in the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Cameco by 7.0% in the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after purchasing an additional 323,693 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Cameco during the 4th quarter valued at about $443,265,000. 70.21% of the stock is owned by institutional investors.

Cameco Stock Up 1.9%

CCJ opened at $90.40 on Thursday. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $102.06 and its 200-day moving average price is $110.73. The company has a market cap of $39.37 billion, a P/E ratio of 83.70, a P/E/G ratio of 1.46 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. On average, equities analysts expect that Cameco Corporation will post 1.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Bank of America reduced their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Finally, TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $146.18.

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.