Susquehanna Fundamental Investments LLC Increases Stock Position in Cameco Co. (NYSE:CCJ)

Susquehanna Fundamental Investments LLC lifted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1,489.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,100 shares of the basic materials company’s stock after acquiring an additional 101,300 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Cameco were worth $5,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Lloyd Harbor Capital Management LLC grew its holdings in shares of Cameco by 120.6% in the second quarter. Lloyd Harbor Capital Management LLC now owns 441,209 shares of the basic materials company’s stock worth $21,707,000 after acquiring an additional 241,209 shares during the period. Mackenzie Financial Corp boosted its position in Cameco by 3.3% in the second quarter. Mackenzie Financial Corp now owns 1,347,328 shares of the basic materials company’s stock worth $66,298,000 after purchasing an additional 43,126 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Cameco by 28.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock valued at $97,653,000 after purchasing an additional 437,921 shares during the period. Fred Alger Management LLC increased its position in shares of Cameco by 106.2% during the 2nd quarter. Fred Alger Management LLC now owns 841,182 shares of the basic materials company’s stock valued at $41,386,000 after purchasing an additional 433,234 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Cameco by 185.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 60,765 shares of the basic materials company’s stock worth $2,990,000 after purchasing an additional 39,471 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

NYSE:CCJ opened at $47.98 on Monday. The business’s 50-day simple moving average is $41.61 and its two-hundred day simple moving average is $46.70. Cameco Co. has a 52 week low of $35.18 and a 52 week high of $56.24. The stock has a market cap of $20.88 billion, a PE ratio of 123.03 and a beta of 0.90. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

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 the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The business had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same period last year, the business 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, analysts forecast that Cameco Co. will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.