BW Gestao de Investimentos Ltda. Grows Position in Cameco Corporation $CCJ

Key Points

• BW Gestao de Investimentos Ltda. increased its stake in Cameco by 237.5% in Q3, buying an additional 95,000 shares to own 135,000 shares valued at about $11.32 million per its SEC filing.
• Cameco posted an earnings beat (Q EPS $0.36 vs. $0.29 estimate and revenue $874.6M vs. $782.1M) and enjoys analyst optimism with a consensus rating of "Moderate Buy" and a consensus price target of $150.40 (some firms as high as $171.20).
• The stock trades well above its 52-week low (opened $116.35; 52‑week range $35.00–$135.24) with a market cap of about $50.7 billion and roughly 70.21% institutional ownership.

BW Gestao de Investimentos Ltda. lifted its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 237.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 135,000 shares of the basic materials company's stock after purchasing an additional 95,000 shares during the period. BW Gestao de Investimentos Ltda.'s holdings in Cameco were worth $11,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abbington Investment Group bought a new position in shares of Cameco during the third quarter valued at about $6,506,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cameco by 79.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company's stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. Nwam LLC increased its holdings in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company's stock valued at $6,304,000 after purchasing an additional 8,519 shares during the period. Hillsdale Investment Management Inc. raised its position in Cameco by 165.1% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company's stock valued at $12,593,000 after purchasing an additional 105,523 shares during the last quarter. Finally, NWF Advisory Services Inc. bought a new position in Cameco during the 3rd quarter valued at approximately $1,996,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Cameco stock opened at $116.35 on Tuesday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The stock's 50 day simple moving average is $114.84 and its two-hundred day simple moving average is $96.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a market cap of $50.67 billion, a price-to-earnings ratio of 119.95 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. As a group, analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCJ. Glj Research reiterated a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. The Goldman Sachs Group restated a "buy" rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Cameco presently has an average rating of "Moderate Buy" and a consensus price target of $150.40.

Cameco Company Profile

Cameco Corporation NYSE: CCJ is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company's operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.

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