Cameco Co. (NYSE:CCJ) Stock Position Raised by Old West Investment Management LLC

Old West Investment Management LLC boosted its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,488 shares of the basic materials company’s stock after acquiring an additional 8,308 shares during the quarter. Cameco accounts for approximately 5.5% of Old West Investment Management LLC’s investment portfolio, making the stock its 4th biggest position. Old West Investment Management LLC owned 0.06% of Cameco worth $12,570,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CCJ. LRI Investments LLC acquired a new position in shares of Cameco in the first quarter worth $26,000. Principal Securities Inc. acquired a new position in Cameco during the 4th quarter worth $29,000. Lindbrook Capital LLC increased its holdings in Cameco by 26.0% during the 1st quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 221 shares during the period. Larson Financial Group LLC raised its position in Cameco by 99.3% in the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 600 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Cameco in the 1st quarter valued at about $87,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CCJ shares. Scotiabank reduced their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Glj Research restated a “buy” rating and issued a $63.73 price target on shares of Cameco in a research note on Wednesday, August 14th. Finally, Bank of America upped their price objective on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $67.25.

Cameco Stock Performance

NYSE CCJ opened at $40.57 on Tuesday. The company has a fifty day moving average of $42.63 and a two-hundred day moving average of $46.54. The company has a market capitalization of $17.66 billion, a PE ratio of 104.03 and a beta of 0.90. Cameco Co. has a 1 year low of $35.18 and a 1 year high of $56.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, analysts expect that Cameco Co. will post 0.96 earnings per share for the current year.

Cameco Company Profile

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.