Envestnet Asset Management Inc. Raises Position in Cameco Co. (NYSE:CCJ)

Envestnet Asset Management Inc. lifted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 7.0% in the second quarter, Holdings Channel.com reports. The firm owned 208,184 shares of the basic materials company’s stock after buying an additional 13,588 shares during the period. Envestnet Asset Management Inc.’s holdings in Cameco were worth $10,243,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. William Blair Investment Management LLC boosted its stake in Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock worth $204,672,000 after buying an additional 265,196 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Cameco by 120.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 274,826 shares of the basic materials company’s stock worth $14,373,000 after purchasing an additional 150,005 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Cameco by 21.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 29,538 shares of the basic materials company’s stock valued at $1,453,000 after purchasing an additional 5,168 shares during the last quarter. Nicholas Investment Partners LP raised its position 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 worth $7,048,000 after purchasing an additional 4,275 shares during the period. Finally, Cibc World Market Inc. lifted its stake in Cameco by 3.7% in the second quarter. Cibc World Market Inc. now owns 3,272,805 shares of the basic materials company’s stock worth $161,022,000 after purchasing an additional 117,722 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CCJ shares. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. The Goldman Sachs Group lifted their target price on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Scotiabank cut their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Glj Research reiterated a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Finally, Cantor Fitzgerald raised shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $67.25.

Cameco Stock Up 1.0 %

NYSE:CCJ opened at $48.06 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The firm has a market cap of $20.91 billion, a PE ratio of 123.23 and a beta of 0.90. The company has a 50-day moving average of $41.55 and a 200 day moving average of $46.60. Cameco Co. has a 1-year low of $35.18 and a 1-year high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data 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). 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 quarter in the prior year, the business posted ($0.01) earnings per share. As a group, research analysts anticipate that Cameco Co. will post 0.91 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.