First Citizens Bank & Trust Co. Boosts Stake in Cameco Co. (NYSE:CCJ)

First Citizens Bank & Trust Co. increased its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 19.2% in the third quarter, HoldingsChannel reports. The firm owned 4,964 shares of the basic materials company’s stock after purchasing an additional 798 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Cameco were worth $237,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CCJ. Massachusetts Financial Services Co. MA purchased a new position in Cameco during the second quarter valued at $73,125,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cameco during the 1st quarter valued at about $31,131,000. King Luther Capital Management Corp purchased a new stake in Cameco in the second quarter worth about $32,740,000. The Manufacturers Life Insurance Company increased its stake in shares of Cameco by 28.3% during the second 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 in the last quarter. Finally, Fred Alger Management LLC lifted its holdings in shares of Cameco by 106.2% during the second 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. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CCJ shares. Scotiabank cut their price target on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Cantor Fitzgerald raised Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Glj Research reaffirmed a “buy” rating and issued a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. Bank of America increased their price objective 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. Finally, National Bank Financial upgraded shares of Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. One research 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $66.56.

Cameco Trading Down 0.2 %

Shares of NYSE:CCJ opened at $57.92 on Tuesday. 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 Co. has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a market cap of $25.21 billion, a P/E ratio of 148.51 and a beta of 0.90. The stock’s fifty day moving average price is $44.79 and its 200-day moving average price is $47.71.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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). The business 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 quarterly revenue was up 24.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. Sell-side analysts expect that Cameco Co. will post 0.83 earnings per share for the current 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.