DekaBank Deutsche Girozentrale Raises Stake in Cameco Co. (NYSE:CCJ)

DekaBank Deutsche Girozentrale raised its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 120.2% in the second quarter, Holdings Channel reports. The institutional investor owned 274,826 shares of the basic materials company’s stock after buying an additional 150,005 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Cameco were worth $14,373,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in Cameco by 21.2% during the second quarter. Oppenheimer & Co. Inc. now owns 29,538 shares of the basic materials company’s stock valued at $1,453,000 after acquiring an additional 5,168 shares in the last quarter. Nicholas Investment Partners LP boosted its holdings in Cameco by 3.1% in the 2nd quarter. Nicholas Investment Partners LP now owns 143,262 shares of the basic materials company’s stock valued at $7,048,000 after purchasing an additional 4,275 shares during the period. Cibc World Market Inc. grew its position in shares of Cameco by 3.7% during the 2nd quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock valued at $161,022,000 after purchasing an additional 117,722 shares in the last quarter. LGT Fund Management Co Ltd. bought a new position in shares of Cameco in the second quarter worth $246,000. Finally, Choreo LLC purchased a new stake in shares of Cameco in the second quarter worth $440,000. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on CCJ. National Bank Financial upgraded Cameco to a “strong-buy” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group upped their price objective on shares of Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research 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 note on Wednesday, June 26th. Finally, Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has an average rating of “Buy” and a consensus price target of $67.25.

Cameco Stock Down 1.0 %

Shares of NYSE CCJ opened at $40.33 on Monday. The stock has a market capitalization of $17.55 billion, a P/E ratio of 103.41 and a beta of 0.90. Cameco Co. has a one year low of $35.18 and a one year high of $56.24. The firm’s 50 day simple moving average is $42.79 and its two-hundred day simple moving average is $46.54. 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 released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. Cameco’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. As a group, analysts expect that Cameco Co. will post 0.96 EPS for the current fiscal 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.