Ramirez Asset Management Inc. Grows Stake in Cameco Corporation $CCJ

Ramirez Asset Management Inc. lifted its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,674 shares of the basic materials company’s stock after buying an additional 5,579 shares during the period. Cameco makes up about 1.5% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Ramirez Asset Management Inc.’s holdings in Cameco were worth $11,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new position in Cameco during the fourth quarter valued at $25,000. Founders Capital Management purchased a new position in Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC purchased a new position in Cameco during the third quarter valued at $28,000. Sunbelt Securities Inc. lifted its position in Cameco by 928.6% during 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 in the last quarter. Finally, Delos Wealth Advisors LLC lifted its position in Cameco by 60.0% during 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 in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $103.52 on Friday. Cameco Corporation has a 12 month low of $59.25 and a 12 month high of $135.24. The stock has a fifty day moving average price of $113.70 and a 200-day moving average price of $108.47. 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 firm has a market cap of $45.09 billion, a PE ratio of 95.85, a P/E/G ratio of 1.75 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period in the prior year, the firm earned $0.16 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCJ. Scotiabank reiterated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus price target of $148.62.

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.