Ieq Capital LLC Makes New Investment in Cameco Corporation $CCJ

Ieq Capital LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,445 shares of the basic materials company’s stock, valued at approximately $1,573,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCJ. Vanguard Group Inc. raised its stake 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 valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Capital World Investors increased its holdings in shares of Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the period. Van ECK Associates Corp raised its stake in shares of Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after purchasing an additional 849,188 shares in the last quarter. Morgan Stanley raised its stake in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after purchasing an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in Cameco in the fourth quarter worth about $443,265,000. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several research analyst reports. Scotiabank reissued an “outperform” rating and set a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Bank of America decreased their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Citigroup reiterated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Stock Up 4.7%

NYSE CCJ opened at $107.03 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The company’s 50 day simple moving average is $96.10 and its 200 day simple moving average is $107.18. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. The company has a market capitalization of $46.61 billion, a P/E ratio of 181.40, a PEG ratio of 1.75 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Profile

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.