PCJ Investment Counsel Ltd. Buys 5,110 Shares of Cameco Co. (NYSE:CCJ)

PCJ Investment Counsel Ltd. raised its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 32.9% in the 4th quarter, HoldingsChannel reports. The firm owned 20,620 shares of the basic materials company’s stock after acquiring an additional 5,110 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Cameco were worth $1,059,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc increased its position in shares of Cameco by 58.0% during the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock worth $181,382,000 after acquiring an additional 1,386,639 shares in the last quarter. Bridgewater Associates LP increased its position in shares of Cameco by 19.9% during the third quarter. Bridgewater Associates LP now owns 2,478,488 shares of the basic materials company’s stock worth $118,386,000 after acquiring an additional 410,711 shares in the last quarter. Progeny 3 Inc. increased its position in shares of Cameco by 7.5% during the third quarter. Progeny 3 Inc. now owns 2,268,132 shares of the basic materials company’s stock worth $108,326,000 after acquiring an additional 159,200 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Cameco by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 2,175,038 shares of the basic materials company’s stock worth $103,968,000 after acquiring an additional 187,512 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Cameco by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after acquiring an additional 664,828 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Cameco currently has a consensus rating of “Buy” and an average price target of $71.25.

Cameco Stock Down 0.6 %

NYSE:CCJ opened at $41.87 on Friday. The firm has a market cap of $18.23 billion, a P/E ratio of 149.54 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a fifty-two week low of $35.43 and a fifty-two week high of $62.55. The firm has a 50-day simple moving average of $48.80 and a two-hundred day simple moving average of $49.90.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Analysts predict that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

Cameco Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.