King Luther Capital Management Corp Makes New Investment in Cameco Co. (NYSE:CCJ)

King Luther Capital Management Corp bought a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 665,448 shares of the basic materials company’s stock, valued at approximately $32,740,000. King Luther Capital Management Corp owned 0.15% of Cameco at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCJ. Principal Securities Inc. acquired a new position in Cameco during the 4th quarter worth about $29,000. Dimensional Fund Advisors LP lifted its holdings in Cameco by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 504,348 shares of the basic materials company’s stock worth $21,737,000 after buying an additional 1,857 shares during the period. Principal Financial Group Inc. acquired a new position in Cameco during the 4th quarter worth about $685,000. Vanguard Personalized Indexing Management LLC lifted its holdings in Cameco by 12.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 10,877 shares of the basic materials company’s stock worth $469,000 after buying an additional 1,238 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Cameco by 136.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 51,327 shares of the basic materials company’s stock worth $2,212,000 after buying an additional 29,650 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CCJ shares. Glj Research reissued a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their price objective on Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Bank of America boosted their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Cameco has a consensus rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Performance

Shares of Cameco stock opened at $41.08 on Friday. Cameco Co. has a one year low of $35.18 and a one year high of $56.24. The firm has a market capitalization of $17.88 billion, a price-to-earnings ratio of 105.32 and a beta of 0.90. The business has a 50-day simple moving average of $41.93 and a 200 day simple moving average of $46.45. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm had revenue of $598.00 million during the quarter, compared to the consensus estimate of $756.00 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 24.1% on a year-over-year basis. On average, research analysts anticipate that Cameco Co. will post 0.96 earnings per share for the current fiscal year.

Cameco Company 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.