Pinnbrook Capital Management LP Invests $1.96 Million in Cameco Co. (NYSE:CCJ)

Pinnbrook Capital Management LP acquired a new position in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 45,546 shares of the basic materials company's stock, valued at approximately $1,963,000.

Other hedge funds also recently made changes to their positions in the company. Capital World Investors increased its holdings in Cameco by 402.0% in the first quarter. Capital World Investors now owns 10,131,797 shares of the basic materials company's stock worth $295,084,000 after purchasing an additional 8,113,385 shares in the last quarter. FMR LLC increased its holdings in Cameco by 21.6% in the third quarter. FMR LLC now owns 27,418,564 shares of the basic materials company's stock worth $1,087,629,000 after purchasing an additional 4,865,085 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cameco by 37.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,068,688 shares of the basic materials company's stock worth $497,555,000 after purchasing an additional 4,644,453 shares in the last quarter. Norges Bank bought a new stake in Cameco in the fourth quarter worth approximately $72,843,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Cameco by 74.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,730,858 shares of the basic materials company's stock worth $227,365,000 after purchasing an additional 2,442,190 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent research reports. StockNews.com downgraded Cameco from a "hold" rating to a "sell" rating in a report on Thursday, April 4th. The Goldman Sachs Group initiated coverage on Cameco in a report on Monday, April 1st. They set a "buy" rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald downgraded Cameco from a "buy" rating to a "neutral" rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.75.

Cameco Stock Down 1.7 %

Shares of NYSE:CCJ traded down $0.85 during mid-day trading on Tuesday, hitting $47.90. 3,425,276 shares of the company traded hands, compared to its average volume of 5,251,411. The stock has a market cap of $20.80 billion, a P/E ratio of 81.27 and a beta of 0.92. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. Cameco Co. has a 12-month low of $24.90 and a 12-month high of $51.33. The stock has a 50-day moving average price of $43.60 and a two-hundred day moving average price of $43.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a net margin of 13.97% and a return on equity of 5.61%. The company had revenue of $620.00 million for the quarter. On average, equities research analysts forecast that Cameco Co. will post 2.11 earnings per share 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.

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