Concurrent Investment Advisors LLC Takes $1.06 Million Position in Cameco Corporation $CCJ

Concurrent Investment Advisors LLC acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,619 shares of the basic materials company's stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CCJ. TD Asset Management Inc raised its holdings in shares of Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock valued at $388,068,000 after purchasing an additional 2,489,207 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock valued at $456,530,000 after buying an additional 1,644,061 shares during the last quarter. Mizuho Markets Cayman LP purchased a new position in shares of Cameco in the 3rd quarter valued at $128,370,000. Victory Capital Management Inc. grew its position in shares of Cameco by 75.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,489,424 shares of the basic materials company's stock valued at $208,490,000 after buying an additional 1,073,111 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Cameco by 32.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,291,202 shares of the basic materials company's stock valued at $360,063,000 after buying an additional 1,060,842 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research report on Wednesday, January 14th. Royal Bank Of Canada increased their target price 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. Zacks Research downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $147.00 target price on shares of Cameco in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Cameco has a consensus rating of "Moderate Buy" and a consensus target price of $150.40.

Cameco Trading Up 7.7%

Shares of Cameco stock opened at $123.08 on Friday. Cameco Corporation has a 1 year low of $44.52 and a 1 year high of $135.24. 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 company has a market capitalization of $53.61 billion, a P/E ratio of 126.89, a PEG ratio of 2.11 and a beta of 1.02. The company's fifty day moving average is $114.95 and its two-hundred day moving average is $105.19.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data 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. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period last year, the firm posted $0.36 EPS. Cameco's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that Cameco Corporation will post 1.2 earnings per share for the current year.

Cameco 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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