Kapitalo Investimentos Ltda Takes $3.51 Million Position in Cameco Corporation (NYSE:CCJ)

Key Points

• Kapitalo Investimentos Ltda has purchased $3.51 million worth of shares in Cameco Corporation, acquiring 85,367 shares, making it the fund's 27th largest investment.
• Institutional investors currently own 70.21% of Cameco's stock, with several funds increasing their stakes significantly in the last quarter.
• Cameco reported earnings of $0.11 per share, missing analysts' expectations, with a quarterly revenue of $549.58 million, which was significantly lower than the expected $890.07 million.

Kapitalo Investimentos Ltda bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 85,367 shares of the basic materials company's stock, valued at approximately $3,514,000. Cameco makes up approximately 0.7% of Kapitalo Investimentos Ltda's holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCJ. Hurley Capital LLC acquired a new position in shares of Cameco in the 4th quarter valued at approximately $27,000. Copia Wealth Management bought a new stake in shares of Cameco during the 4th quarter valued at approximately $39,000. Ameriflex Group Inc. acquired a new position in Cameco during the 4th quarter worth approximately $40,000. CoreCap Advisors LLC lifted its stake in Cameco by 8,363.6% in the 4th quarter. CoreCap Advisors LLC now owns 931 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 920 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in Cameco by 315.2% in the first quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company's stock valued at $51,000 after buying an additional 933 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 0.4%

CCJ opened at $79.60 on Friday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $80.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The firm has a market capitalization of $34.66 billion, a price-to-earnings ratio of 199.00 and a beta of 1.03. The company's 50 day moving average price is $68.07 and its two-hundred day moving average price is $53.44.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share 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 for the quarter, compared to the consensus estimate of $890.07 million. During the same period in the previous year, the firm earned $0.13 earnings per share. The company's revenue was up 24.4% compared to the same quarter last year. As a group, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Desjardins assumed coverage on shares of Cameco in a research note on Friday, April 4th. They set a "buy" rating on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Royal Bank Of Canada boosted 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. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $80.65.

Cameco 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.

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