Artemis Investment Management LLP Boosts Stock Position in Cameco Co. (NYSE:CCJ)

Artemis Investment Management LLP boosted its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 102.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 700,497 shares of the basic materials company’s stock after buying an additional 355,328 shares during the period. Artemis Investment Management LLP’s holdings in Cameco were worth $33,456,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CCJ. Massachusetts Financial Services Co. MA bought a new stake in Cameco in the second quarter valued at about $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Cameco during the first quarter worth $31,131,000. King Luther Capital Management Corp acquired a new position in Cameco in the second quarter worth $32,740,000. The Manufacturers Life Insurance Company lifted its position in shares of Cameco by 28.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,987,526 shares of the basic materials company’s stock worth $97,653,000 after buying an additional 437,921 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of Cameco by 106.2% in 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 buying an additional 433,234 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Glj Research reaffirmed a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Scotiabank lowered their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. Janney Montgomery Scott upgraded shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Bank of America lifted 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. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $66.56.

Cameco Trading Up 0.3 %

Shares of NYSE:CCJ opened at $51.59 on Wednesday. The company has a 50 day moving average of $42.07 and a 200-day moving average of $47.10. 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 firm has a market cap of $22.45 billion, a P/E ratio of 132.28 and a beta of 0.90. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share 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 during the quarter, compared to analyst estimates of $756.00 million. During the same quarter last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, analysts anticipate that Cameco Co. will post 0.91 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.