Ritholtz Wealth Management Purchases New Position in Cameco Co. (NYSE:CCJ)

Ritholtz Wealth Management acquired a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,371 shares of the basic materials company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCJ. Covea Finance raised its position in Cameco by 4.2% in the 3rd quarter. Covea Finance now owns 1,153,551 shares of the basic materials company’s stock worth $55,119,000 after purchasing an additional 46,500 shares during the period. Private Advisory Group LLC purchased a new stake in shares of Cameco in the third quarter worth approximately $5,889,000. Cadinha & Co. LLC lifted its stake in shares of Cameco by 22.6% during the 3rd quarter. Cadinha & Co. LLC now owns 419,699 shares of the basic materials company’s stock worth $20,045,000 after acquiring an additional 77,378 shares during the last quarter. Strategic Wealth Partners Ltd. grew its position in Cameco by 30.5% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 188,975 shares of the basic materials company’s stock valued at $9,025,000 after acquiring an additional 44,214 shares during the last quarter. Finally, Artemis Investment Management LLP increased its stake in Cameco by 102.9% in the third quarter. Artemis Investment Management LLP now owns 700,497 shares of the basic materials company’s stock worth $33,456,000 after purchasing an additional 355,328 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank dropped their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Janney Montgomery Scott upgraded Cameco to a “strong-buy” rating in a report on Friday, October 4th. Glj Research restated a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Cameco has an average rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 1.6 %

Shares of NYSE:CCJ opened at $56.68 on Friday. The company has a market capitalization of $24.67 billion, a PE ratio of 145.33 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. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $57.55. The business’s fifty day simple moving average is $44.05 and its 200-day simple moving average is $47.58.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly 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). The firm had revenue of $598.00 million during the quarter, compared to analysts’ expectations of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. Cameco’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. As a group, equities research analysts predict that Cameco Co. will post 0.83 earnings per share 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.