Capital Market Strategies LLC Raises Stake in Cameco Co. (NYSE:CCJ)

Capital Market Strategies LLC increased its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,885 shares of the basic materials company’s stock after buying an additional 500 shares during the period. Capital Market Strategies LLC’s holdings in Cameco were worth $390,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cameco by 37.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company’s stock worth $497,555,000 after purchasing an additional 4,644,453 shares during the last quarter. Bank of New York Mellon Corp increased its position in Cameco by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 454,418 shares of the basic materials company’s stock worth $13,223,000 after buying an additional 9,757 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Cameco by 6.0% in the first quarter. American Century Companies Inc. now owns 25,154 shares of the basic materials company’s stock valued at $733,000 after buying an additional 1,414 shares during the period. BlackRock Inc. lifted its position in shares of Cameco by 10.4% during the 1st quarter. BlackRock Inc. now owns 554,571 shares of the basic materials company’s stock valued at $16,138,000 after buying an additional 52,341 shares during the last quarter. Finally, Aviva PLC bought a new position in shares of Cameco during the 1st quarter worth $819,000. Institutional investors own 66.57% of the company’s stock.

Cameco Price Performance

Shares of Cameco stock traded up $0.35 on Monday, reaching $37.35. The stock had a trading volume of 3,350,700 shares, compared to its average volume of 4,274,502. The business’s 50 day moving average is $33.34 and its two-hundred day moving average is $29.47. The company has a current ratio of 3.64, a quick ratio of 3.00 and a debt-to-equity ratio of 0.08. Cameco Co. has a 1 year low of $21.02 and a 1 year high of $37.88. The company has a market cap of $16.18 billion, a P/E ratio of 249.00, a price-to-earnings-growth ratio of 0.83 and a beta of 1.00.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). The firm had revenue of $482.00 million during the quarter, compared to analysts’ expectations of $636.37 million. Cameco had a return on equity of 2.74% and a net margin of 4.67%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. As a group, research analysts anticipate that Cameco Co. will post 0.79 EPS for the current year.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent research reports. TD Securities upped their price objective on shares of Cameco from C$51.00 to C$55.00 and gave the company an “action list buy” rating in a report on Thursday, August 3rd. Scotiabank dropped their price target on shares of Cameco from C$50.00 to C$49.00 in a research note on Wednesday, June 28th. StockNews.com started coverage on shares of Cameco in a research note on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Raymond James increased their target price on Cameco from C$50.00 to C$52.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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.