Cibc World Markets Corp Raises Position in Cameco Co. (NYSE:CCJ)

Cibc World Markets Corp grew its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 183.5% during the 4th quarter, Holdings Channel reports. The fund owned 91,000 shares of the basic materials company’s stock after buying an additional 58,900 shares during the quarter. Cibc World Markets Corp’s holdings in Cameco were worth $4,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Sierra Ocean LLC acquired a new stake in shares of Cameco in the fourth quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Cameco in the fourth quarter valued at about $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Cameco in the fourth quarter valued at about $33,000. Pingora Partners LLC acquired a new stake in shares of Cameco in the third quarter valued at about $33,000. Finally, Compass Planning Associates Inc acquired a new stake in shares of Cameco in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CCJ shares. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Glj Research lifted their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, Stifel Nicolaus initiated coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Cameco currently has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Stock Performance

NYSE:CCJ opened at $44.17 on Thursday. The firm has a 50 day simple moving average of $47.26 and a 200-day simple moving average of $50.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26. The firm has a market cap of $19.23 billion, a PE ratio of 157.74 and a beta of 1.04. Cameco Co. has a 1-year low of $35.43 and a 1-year high of $62.55.

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 for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $845.54 million during 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 analysts expect that Cameco Co. will post 1.27 EPS for the current 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.