Morse Asset Management Inc Makes New Investment in Cameco Corporation $CCJ

Key Points

• Morse Asset Management initiated a new stake in Cameco in Q4, purchasing 17,234 shares valued at approximately $1.577 million.
• Major institutions including Vanguard, Capital World Investors, VanEck and TD Asset Management have recently increased holdings, and 70.21% of Cameco is owned by institutional investors.
• Analyst sentiment is positive with a consensus rating of "Moderate Buy" and a $150.40 target, supported by recent upgrades and a quarterly EPS beat of $0.34 versus $0.25 expected.

Morse Asset Management Inc purchased a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,234 shares of the basic materials company's stock, valued at approximately $1,577,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after buying an additional 258,193 shares during the period. Capital World Investors raised its holdings in Cameco by 0.8% during the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company's stock worth $1,133,147,000 after buying an additional 106,872 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock worth $1,089,080,000 after buying an additional 85,762 shares during the period. Van ECK Associates Corp raised its holdings in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock worth $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, TD Asset Management Inc raised its holdings in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock worth $388,068,000 after buying an additional 2,489,207 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. The Goldman Sachs Group restated a "buy" rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. TD Securities downgraded Cameco from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 26th. Finally, Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Twelve research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $150.40.

Cameco Trading Down 1.9%

Shares of NYSE CCJ opened at $118.28 on Tuesday. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of 121.94, a PEG ratio of 2.05 and a beta of 1.04. The business has a 50 day simple moving average of $114.95 and a 200 day simple moving average of $105.37. Cameco Corporation has a 52 week low of $45.42 and a 52 week 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.

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 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Cameco had a return on equity of 9.35% and a net margin of 17.00%. On average, research analysts predict that Cameco Corporation will post 1.3 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.