Reaves W H & Co. Inc. Increases Position in Cameco Corporation (NYSE:CCJ)

Key Points

• Reaves W H & Co. Inc. increases its stake in Cameco Corporation by 11.4%, acquiring 163,735 additional shares, bringing its total holdings to 1,602,703 shares valued at approximately $65.97 million.
• Cameco has received strong endorsements from analysts, with ten giving it a buy rating and an average price target of $82.65, following a recent increase in their stock price.
• The company's most recent earnings report showed a 46.7% year-over-year revenue increase, reporting $0.51 earnings per share, significantly surpassing analysts' expectations of $0.29.

Reaves W H & Co. Inc. grew its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,602,703 shares of the basic materials company's stock after purchasing an additional 163,735 shares during the quarter. Cameco comprises approximately 1.7% of Reaves W H & Co. Inc.'s investment portfolio, making the stock its 24th biggest holding. Reaves W H & Co. Inc. owned about 0.37% of Cameco worth $65,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its stake in shares of Cameco by 8.7% during the 4th 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 in the last quarter. Driehaus Capital Management LLC raised its holdings in Cameco by 120.2% in the 4th quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Cameco in the 4th quarter valued at approximately $34,440,000. Canada Pension Plan Investment Board grew its stake in shares of Cameco by 3,057.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 643,535 shares of the basic materials company's stock valued at $33,046,000 after buying an additional 623,154 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Cameco by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 2,518,655 shares of the basic materials company's stock worth $130,550,000 after purchasing an additional 607,041 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the subject of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Scotiabank restated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Finally, UBS Group restated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $82.65.

Cameco Price Performance

CCJ stock traded down $0.74 during trading on Tuesday, reaching $74.52. 4,319,126 shares of the company were exchanged, compared to its average volume of 4,963,906. The company has a market cap of $32.45 billion, a P/E ratio of 85.66 and a beta of 1.06. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $80.32. The stock's 50 day moving average price is $70.73 and its 200 day moving average price is $54.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The firm had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm's revenue was up 46.7% on a year-over-year basis. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal 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.