Zions Bancorporation National Association UT Acquires New Position in Cameco Corporation (NYSE:CCJ)

Key Points

• Zions Bancorporation National Association UT acquired 7,584 shares of Cameco Corporation valued at approximately $312,000, according to its recent 13F filing with the SEC.
• Cameco reported a 46.7% increase in revenue year-over-year, with a quarterly earnings per share of $0.51, surpassing analysts' expectations.
• The company's stock has received several upgrades from brokerages, with a consensus rating of "Buy" and a target price of $82.65 as per MarketBeat.

Zions Bancorporation National Association UT acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,584 shares of the basic materials company's stock, valued at approximately $312,000.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG boosted its position in shares of Cameco by 2.3% during the first quarter. Deutsche Bank AG now owns 653,602 shares of the basic materials company's stock valued at $26,902,000 after purchasing an additional 14,992 shares in the last quarter. Altfest L J & Co. Inc. lifted its position in Cameco by 41.8% during the first quarter. Altfest L J & Co. Inc. now owns 18,810 shares of the basic materials company's stock valued at $774,000 after buying an additional 5,542 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cameco by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,084,358 shares of the basic materials company's stock valued at $703,295,000 after buying an additional 300,088 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in shares of Cameco by 27.1% during the 1st quarter. Legacy Capital Group California Inc. now owns 12,872 shares of the basic materials company's stock valued at $530,000 after buying an additional 2,746 shares in the last quarter. Finally, Wealthspire Advisors LLC bought a new stake in shares of Cameco during the 1st quarter valued at $259,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCJ. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. UBS Group restated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. The Goldman Sachs Group upped their target price on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded shares of Cameco from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, TD Securities restated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Twelve investment 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, the company presently has an average rating of "Buy" and an average target price of $82.65.

Cameco Stock Up 1.0%

Shares of NYSE CCJ traded up $0.74 during trading hours on Tuesday, hitting $78.41. 3,087,223 shares of the stock were exchanged, compared to its average volume of 4,563,115. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $80.32. The company has a market cap of $34.14 billion, a PE ratio of 90.13 and a beta of 1.06. The firm has a fifty day moving average price of $72.81 and a 200-day moving average price of $55.49.

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, beating the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The business had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same period in the prior year, the firm earned $0.14 EPS. The business's revenue for the quarter was up 46.7% on a year-over-year basis. On average, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Company 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.