Montgomery Investment Management Inc. Increases Stock Holdings in Cameco Corporation (NYSE:CCJ)

Montgomery Investment Management Inc. lifted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 73.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,525 shares of the basic materials company's stock after purchasing an additional 9,100 shares during the period. Montgomery Investment Management Inc.'s holdings in Cameco were worth $886,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Cameco during the fourth quarter worth about $188,595,000. FMR LLC lifted its stake in Cameco by 8.7% in the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after acquiring an additional 1,811,876 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in Cameco by 120.2% in the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock worth $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Cameco by 13.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock worth $518,443,000 after acquiring an additional 1,196,336 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Cameco by 35.9% in the 4th quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company's stock valued at $133,151,000 after purchasing an additional 685,145 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCJ shares. Glj Research reaffirmed a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. The Goldman Sachs Group increased their price objective on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Desjardins assumed coverage on Cameco in a research note on Friday, April 4th. They set a "buy" rating for the company. One analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cameco has an average rating of "Buy" and a consensus price target of $80.65.

Cameco Stock Performance

CCJ traded up $0.77 during trading on Thursday, hitting $79.92. 3,691,480 shares of the stock were exchanged, compared to its average volume of 5,124,197. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $80.06. The stock has a fifty day moving average price of $67.51 and a two-hundred day moving average price of $53.23. The firm has a market capitalization of $34.80 billion, a P/E ratio of 199.81 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results 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). The business had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The business's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 earnings per share. As a group, sell-side analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

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.