Norges Bank Purchases New Position in Cameco Co. (NYSE:CCJ)

Norges Bank purchased a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,672,157 shares of the basic materials company’s stock, valued at approximately $188,595,000.

Several other large investors have also recently added to or reduced their stakes in CCJ. Glenmede Trust Co. NA boosted its holdings in shares of Cameco by 2.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. Larson Financial Group LLC increased its holdings in Cameco by 37.4% during the 4th quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 226 shares in the last quarter. Heritage Wealth Management Inc. raised its position in Cameco by 0.8% in the 4th quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Cameco by 48.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 267 shares in the last quarter. Finally, EdgeRock Capital LLC grew its holdings in shares of Cameco by 2.2% during the fourth quarter. EdgeRock Capital LLC now owns 13,986 shares of the basic materials company’s stock worth $719,000 after purchasing an additional 297 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Glj Research lifted their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Price Performance

Shares of CCJ stock opened at $41.83 on Monday. The firm’s 50 day moving average price is $46.42 and its two-hundred day moving average price is $50.38. The stock has a market cap of $18.21 billion, a PE ratio of 149.40 and a beta of 1.04. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $62.55. 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 (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a return on equity of 4.34% and a net margin of 5.39%. The business had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. As a group, analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

About Cameco

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.