General American Investors Co. Inc. Boosts Position in Cameco Corporation $CCJ

Key Points

• General American Investors Co. Inc. increased its Cameco stake by 8.0% in the first quarter, buying 25,000 more shares and bringing its total holding to 339,230 shares worth about $36.8 million.
• Cameco reported better-than-expected quarterly results, with EPS of $0.34 versus $0.29 expected and revenue of $607.5 million, up 7.1% from a year earlier.
• Analyst sentiment remains mostly positive: Cameco has a Moderate Buy consensus rating, with 12 Buy ratings and a consensus price target of $148.11 despite a few recent downgrades.

General American Investors Co. Inc. raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,230 shares of the basic materials company's stock after acquiring an additional 25,000 shares during the quarter. Cameco makes up 2.4% of General American Investors Co. Inc.'s investment portfolio, making the stock its 14th largest position. General American Investors Co. Inc. owned approximately 0.08% of Cameco worth $36,844,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Cameco during the fourth quarter worth $25,000. Founders Capital Management acquired a new position in shares of Cameco in the 4th quarter valued at about $27,000. Strategic Advocates LLC purchased a new position in Cameco in the third quarter valued at approximately $28,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Cameco in the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

NYSE:CCJ traded up $0.32 during midday trading on Friday, reaching $96.06. 2,321,727 shares of the company traded hands, compared to its average volume of 2,667,316. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 88.94, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The company has a fifty day moving average price of $106.85 and a 200 day moving average price of $110.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, analysts expect that Cameco Corporation will post 1.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating for the company. Sanford C. Bernstein restated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada increased their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.11.

About Cameco

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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