Cameco Co. (NYSE:CCJ) Shares Purchased by Summit Financial LLC

Summit Financial LLC raised its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 260.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,172 shares of the basic materials company’s stock after buying an additional 108,454 shares during the quarter. Summit Financial LLC’s holdings in Cameco were worth $7,717,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Old West Investment Management LLC boosted its position in shares of Cameco by 10.4% during the 3rd quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock worth $13,472,000 after purchasing an additional 26,584 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cameco by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 902,640 shares of the basic materials company’s stock valued at $43,169,000 after purchasing an additional 29,617 shares during the period. Cerity Partners LLC grew its stake in Cameco by 78.8% during the 3rd quarter. Cerity Partners LLC now owns 20,920 shares of the basic materials company’s stock worth $999,000 after purchasing an additional 9,222 shares in the last quarter. Glenmede Trust Co. NA raised its position in Cameco by 2.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 191 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cameco by 22.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 255,434 shares of the basic materials company’s stock valued at $12,216,000 after buying an additional 47,230 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 1.9 %

Shares of Cameco stock opened at $41.83 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. The company has a market capitalization of $18.21 billion, a P/E ratio of 149.40 and a beta of 1.04. 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 is $46.42 and its two-hundred day moving average is $50.38.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. Analysts forecast that Cameco Co. will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Stifel Nicolaus began coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Finally, Glj Research boosted their price target on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $73.64.

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.