Kayne Anderson Capital Advisors LP Acquires Shares of 37,214 Cameco Corporation $CCJ

Kayne Anderson Capital Advisors LP bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 37,214 shares of the basic materials company’s stock, valued at approximately $3,791,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cameco during the 4th quarter worth $443,265,000. BlackRock Inc. purchased a new stake in Cameco in the 2nd quarter worth about $381,091,000. Marshall Wace LLP raised its stake in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after acquiring an additional 1,729,454 shares during the period. Bank of New York Mellon Corp bought a new stake in Cameco in the 2nd quarter valued at about $163,449,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Cameco by 14,338.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research reports. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Citigroup reissued a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Barclays dropped their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Royal Bank Of Canada lifted their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

Shares of CCJ opened at $95.55 on Friday. The stock’s 50-day simple moving average is $96.18 and its 200 day simple moving average is $107.53. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 161.95, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. Cameco Corporation has a 52-week low of $70.47 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. Research analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.