Colonial River Investments LLC Buys New Stake in Cameco Corporation (NYSE:CCJ)

Colonial River Investments LLC acquired a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,214 shares of the basic materials company's stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new stake in Cameco in the 4th quarter worth about $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Cameco in the 4th quarter worth about $28,000. Whipplewood Advisors LLC purchased a new stake in Cameco in the 4th quarter worth about $33,000. Copia Wealth Management purchased a new stake in Cameco in the 4th quarter worth about $39,000. Finally, Ameriflex Group Inc. bought a new position in Cameco in the 4th quarter worth about $40,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Stock Down 1.6%

NYSE:CCJ traded down $1.22 during trading hours on Friday, reaching $73.25. The company's stock had a trading volume of 8,005,182 shares, compared to its average volume of 4,489,434. The company has a market capitalization of $31.89 billion, a P/E ratio of 183.12 and a beta of 0.97. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $75.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock has a 50 day moving average price of $56.83 and a two-hundred day moving average price of $50.33.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The business had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same period last year, the firm earned $0.13 EPS. The business's quarterly revenue was up 24.4% on a year-over-year basis. Equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CCJ. Glj Research restated a "buy" rating and issued a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. UBS Group restated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $80.65.

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.