Artemis Investment Management LLP Raises Stock Holdings in Cameco Co. (NYSE:CCJ)

Artemis Investment Management LLP boosted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 102.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 700,497 shares of the basic materials company’s stock after purchasing an additional 355,328 shares during the period. Artemis Investment Management LLP owned about 0.16% of Cameco worth $33,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new stake in shares of Cameco in the 4th quarter valued at $6,590,000. Tidal Investments LLC increased its position in 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. LRI Investments LLC acquired a new stake in Cameco during the 1st quarter worth $30,000. Susquehanna Fundamental Investments LLC acquired a new position in Cameco in the first quarter valued at $295,000. Finally, Councilmark Asset Management LLC acquired a new stake in Cameco during the 1st quarter worth approximately $1,760,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CCJ shares. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank cut their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Glj Research restated a “buy” rating and issued a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Price Performance

Shares of Cameco stock opened at $51.59 on Wednesday. The stock has a market capitalization of $22.45 billion, a P/E ratio of 132.28 and a beta of 0.90. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $42.07 and its 200 day moving average price is $47.10. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) 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 firm had revenue of $598.00 million for the quarter, compared to analysts’ expectations of $756.00 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue for the quarter was up 24.1% compared to the same quarter last year. As a group, research analysts anticipate that Cameco Co. will post 0.91 earnings per share 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.