Cameco Corporation $CCJ Shares Newly Purchased by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management purchased 49,031 Cameco shares in the third quarter, valued at approximately $4.27 million. Institutional investors collectively own 70.21% of the company.
• Analyst opinions remain broadly positive, with 12 Buy ratings, four Holds and one Sell; Cameco has a consensus “Moderate Buy” rating and an average price target of $148.68.
• Cameco opened at $86.20, below its 50-day and 200-day moving averages, after reporting quarterly EPS of $0.13—below the $0.26 consensus estimate—and year-over-year revenue declined 6.8%.

NorthCrest Asset Manangement LLC bought a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,031 shares of the basic materials company's stock, valued at approximately $4,272,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Cameco during the 2nd quarter valued at $735,498,000. Canada Pension Plan Investment Board acquired a new stake in Cameco during the 2nd quarter valued at approximately $420,346,000. BlackRock Inc. acquired a new stake in shares of Cameco during the second quarter worth approximately $381,091,000. Cibc World Market Inc. acquired a new position in Cameco during the 2nd quarter worth $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cameco in the 2nd quarter worth about $301,990,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Cameco from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Wall Street Zen lowered Cameco from a "hold" rating to a "sell" rating in a report on Saturday, September 19th. Jefferies Financial Group assumed coverage on Cameco in a research note on Thursday, September 3rd. They set a "buy" rating and a $138.00 price objective on the stock. Finally, Barclays reduced their target price on Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.68.

Cameco Price Performance

CCJ opened at $86.20 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The company's 50-day moving average price is $94.89 and its 200 day moving average price is $101.94. Cameco Corporation has a fifty-two week low of $77.70 and a fifty-two week high of $135.24. The firm has a market cap of $37.54 billion, a price-to-earnings ratio of 146.11, a price-to-earnings-growth ratio of 1.76 and a beta of 1.17.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm's quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, sell-side analysts expect that Cameco Corporation will post 1.07 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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