Canada Pension Plan Investment Board Purchases 623,154 Shares of Cameco Co. (NYSE:CCJ)

Canada Pension Plan Investment Board boosted its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3,057.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 643,535 shares of the basic materials company’s stock after acquiring an additional 623,154 shares during the period. Canada Pension Plan Investment Board’s holdings in Cameco were worth $33,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dantai Capital Ltd lifted its stake in Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC bought a new stake in shares of Cameco in the fourth quarter valued at about $895,000. Whalen Wealth Management Inc. bought a new position in shares of Cameco during the fourth quarter worth about $445,000. Sprott Inc. raised its position in Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after buying an additional 34,483 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in Cameco in the 4th quarter valued at approximately $930,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Glj Research lifted their price objective on shares of Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday, March 12th. Sanford C. Bernstein initiated coverage on shares of Cameco in a research note on Tuesday, April 1st. They issued an “outperform” rating and a $52.00 price target on the stock. Stifel Nicolaus began coverage on Cameco in a report on Wednesday, March 12th. They issued a “buy” rating for the company. StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Desjardins assumed coverage on Cameco in a research report on Friday, April 4th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $70.03.

Cameco Price Performance

Shares of NYSE CCJ opened at $41.12 on Friday. The business’s 50 day moving average is $42.67 and its 200-day moving average is $49.75. The firm has a market cap of $17.90 billion, a P/E ratio of 146.84 and a beta of 1.04. Cameco Co. has a 1-year low of $35.00 and a 1-year high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Equities research analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

About Cameco

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.