1832 Asset Management L.P. Has $33.95 Million Position in Cameco Co. (NYSE:CCJ)

1832 Asset Management L.P. grew its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 39.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 690,067 shares of the basic materials company’s stock after purchasing an additional 196,275 shares during the period. 1832 Asset Management L.P. owned about 0.16% of Cameco worth $33,951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bornite Capital Management LP bought a new stake in Cameco in the 4th quarter valued at $6,590,000. Tidal Investments LLC boosted its position in shares of Cameco by 15.5% during the first quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock worth $868,000 after buying an additional 2,683 shares during the period. Eaton Financial Holdings Company LLC bought a new position in shares of Cameco during the fourth quarter worth about $1,327,000. LRI Investments LLC acquired a new stake in Cameco in the 1st quarter valued at approximately $30,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Cameco in the 1st quarter valued at approximately $295,000. 70.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCJ shares. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Bank of America boosted their price target on shares of Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Glj Research reiterated a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group boosted their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $67.25.

Cameco Price Performance

Shares of NYSE CCJ opened at $46.02 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $41.64 and its two-hundred day moving average price is $46.56. The company has a market cap of $20.03 billion, a PE ratio of 118.00 and a beta of 0.90. Cameco Co. has a twelve month low of $35.18 and a twelve month high of $56.24.

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 analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business had revenue of $598.00 million for the quarter, compared to analyst estimates of $756.00 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 24.1% compared to the same quarter last year. On average, analysts predict that Cameco Co. will post 0.96 EPS for the current year.

Cameco 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.