Griffin Asset Management Inc. Purchases 25,810 Shares of Cameco Corporation $CCJ

Griffin Asset Management Inc. boosted its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 905.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,660 shares of the basic materials company’s stock after buying an additional 25,810 shares during the quarter. Griffin Asset Management Inc.’s holdings in Cameco were worth $2,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. Bison Wealth LLC raised its holdings in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares during the last quarter. AQR Capital Management LLC raised its holdings in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund bought a new stake in Cameco during the 2nd quarter valued at $14,252,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CCJ shares. Weiss Ratings lowered shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.13.

Cameco Stock Up 0.5%

NYSE:CCJ opened at $104.00 on Thursday. The firm’s 50-day moving average price is $113.71 and its 200-day moving average price is $107.18. The company has a market capitalization of $45.30 billion, a PE ratio of 96.30, a P/E/G ratio of 1.75 and a beta of 1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a 1-year low of $51.70 and a 1-year high of $135.24.

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