CIBC Asset Management Inc Increases Stock Holdings in Cameco Corporation $CCJ

CIBC Asset Management Inc increased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,118,426 shares of the basic materials company’s stock after purchasing an additional 21,806 shares during the period. CIBC Asset Management Inc’s holdings in Cameco were worth $287,514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCJ. Nisa Investment Advisors LLC purchased a new stake in shares of Cameco in the fourth quarter valued at $25,000. Founders Capital Management purchased a new stake in shares of Cameco in the fourth quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in shares of Cameco in the third quarter valued at $28,000. Sunbelt Securities Inc. grew its position in shares of Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 325 shares during the period. Finally, Delos Wealth Advisors LLC grew its position in shares of Cameco by 60.0% in the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ stock opened at $120.56 on Wednesday. The stock has a 50-day moving average price of $113.12 and a two-hundred day moving average price of $107.90. Cameco Corporation has a 12-month low of $58.91 and a 12-month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $52.51 billion, a PE ratio of 111.63, a price-to-earnings-growth ratio of 1.90 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts predict that Cameco Corporation will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCJ. Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Glj Research restated a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average price target of $148.62.

Cameco Company 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.