22,252 Shares in Cameco Corporation $CCJ Purchased by Montgomery Investment Management Inc.

Montgomery Investment Management Inc. bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 22,252 shares of the basic materials company’s stock, valued at approximately $1,929,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CCJ. Bank of America Corp DE bought a new position in shares of Cameco in the 2nd quarter worth $735,498,000. Canada Pension Plan Investment Board bought a new stake in Cameco in the second quarter valued at about $420,346,000. BlackRock Inc. bought a new stake in Cameco in the second quarter valued at about $381,091,000. Cibc World Market Inc. acquired a new position in Cameco in the second quarter valued at about $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cameco in the second quarter valued at about $301,990,000. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of recent analyst reports. Bank of America reduced their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Weiss Ratings raised Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Jefferies Financial Group began coverage on Cameco in a research note on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price target for the company. Zacks Research downgraded shares of Cameco from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.10.

Cameco Price Performance

Shares of NYSE CCJ opened at $79.09 on Tuesday. The company has a fifty day moving average price of $92.24 and a 200 day moving average price of $104.80. The firm has a market cap of $34.45 billion, a PE ratio of 89.32, a PEG ratio of 1.57 and a beta of 1.17. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 1-year low of $76.92 and a 1-year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. Research analysts predict that Cameco Corporation will post 1.09 earnings per share for the current fiscal year.

About Cameco

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.