Waverly Advisors LLC Makes New $323,000 Investment in Cameco Co. (NYSE:CCJ)

Waverly Advisors LLC bought a new position in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,294 shares of the basic materials company's stock, valued at approximately $323,000.

A number of other institutional investors have also modified their holdings of the stock. Soviero Asset Management LP increased its position in shares of Cameco by 34.1% during the fourth quarter. Soviero Asset Management LP now owns 59,000 shares of the basic materials company's stock worth $3,032,000 after acquiring an additional 15,000 shares during the period. Two Sigma Investments LP increased its position in shares of Cameco by 0.5% during the fourth quarter. Two Sigma Investments LP now owns 50,438 shares of the basic materials company's stock worth $2,592,000 after acquiring an additional 238 shares during the period. Tidal Investments LLC increased its position in shares of Cameco by 44.7% during the fourth quarter. Tidal Investments LLC now owns 36,736 shares of the basic materials company's stock worth $1,888,000 after acquiring an additional 11,340 shares during the period. Strategic Wealth Partners Ltd. increased its position in shares of Cameco by 2.1% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 193,026 shares of the basic materials company's stock worth $9,474,000 after acquiring an additional 4,051 shares during the period. Finally, Sagefield Capital LP increased its position in shares of Cameco by 99.2% during the fourth quarter. Sagefield Capital LP now owns 322,700 shares of the basic materials company's stock worth $16,584,000 after acquiring an additional 160,664 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCJ shares. Glj Research raised 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. Stifel Nicolaus began coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a "buy" rating on the stock. Stifel Canada upgraded shares of Cameco to a "strong-buy" rating in a research note on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $90.00 price objective on shares of Cameco in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $70.53.

Cameco Stock Down 1.4%

CCJ traded down $0.83 during trading on Friday, hitting $58.32. The stock had a trading volume of 1,717,317 shares, compared to its average volume of 4,213,553. The company has a market capitalization of $25.39 billion, a PE ratio of 208.48 and a beta of 0.89. Cameco Co. has a twelve month low of $35.00 and a twelve month 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. The stock has a 50 day simple moving average of $45.99 and a two-hundred day simple moving average of $49.12.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The firm had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Cameco's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. On average, research analysts predict that Cameco Co. will post 1.27 earnings per share 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.