Madison Investment Advisors LLC Takes Position in Cameco Co. (NYSE:CCJ)

Madison Investment Advisors LLC acquired a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the fourth quarter, HoldingsChannel reports. The fund acquired 60,932 shares of the basic materials company’s stock, valued at approximately $3,131,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCJ. Old West Investment Management LLC boosted its stake in shares of Cameco by 10.4% during the third quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after purchasing an additional 26,584 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Cameco by 1,138.1% during the third quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after purchasing an additional 245,831 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Cameco by 9.7% during the third quarter. Oppenheimer & Co. Inc. now owns 32,397 shares of the basic materials company’s stock valued at $1,547,000 after purchasing an additional 2,859 shares in the last quarter. Huntington National Bank boosted its stake in shares of Cameco by 8.2% during the third quarter. Huntington National Bank now owns 13,827 shares of the basic materials company’s stock valued at $660,000 after purchasing an additional 1,045 shares in the last quarter. Finally, Nicola Wealth Management LTD. boosted its stake in shares of Cameco by 46.8% during the third quarter. Nicola Wealth Management LTD. now owns 45,500 shares of the basic materials company’s stock valued at $2,174,000 after purchasing an additional 14,500 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Glj Research raised their target price on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus initiated coverage on shares of Cameco in a research note on Wednesday. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cameco has an average rating of “Buy” and an average target price of $73.64.

Cameco Price Performance

Shares of CCJ opened at $41.75 on Friday. The firm has a market capitalization of $18.17 billion, a PE ratio of 149.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $62.55. The company’s fifty day moving average price is $48.01 and its 200-day moving average price is $49.91.

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