Adage Capital Partners GP L.L.C. Acquires Shares of 50,000 Cameco Co. (NYSE:CCJ)

Adage Capital Partners GP L.L.C. acquired a new position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the basic materials company's stock, valued at approximately $2,570,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new position in shares of Cameco in the fourth quarter worth about $25,000. Hurley Capital LLC bought a new position in Cameco in the 4th quarter worth approximately $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cameco in the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC purchased a new position in shares of Cameco in the fourth quarter valued at $33,000. Finally, Compass Planning Associates Inc bought a new position in Cameco in the 4th quarter worth about $36,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. StockNews.com raised shares of Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Sanford C. Bernstein began coverage on Cameco in a research report on Tuesday, April 1st. They issued an "outperform" rating and a $52.00 price objective on the stock. Finally, Desjardins initiated coverage on Cameco in a research note on Friday, April 4th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cameco has an average rating of "Buy" and an average target price of $70.03.

Cameco Price Performance

Shares of NYSE CCJ traded up $1.50 during trading hours on Friday, reaching $47.01. 4,138,870 shares of the stock traded hands, compared to its average volume of 4,063,863. The company's 50-day simple moving average is $42.08 and its two-hundred day simple moving average is $49.28. The company has a market capitalization of $20.46 billion, a P/E ratio of 167.89 and a beta of 1.04. Cameco Co. has a 52-week low of $35.00 and a 52-week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted 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. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to the consensus estimate of $1.09 billion. Equities research 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.