Daiwa Securities Group Inc. Buys New Position in Cameco Co. (NYSE:CCJ)

Daiwa Securities Group Inc. bought a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 2,600 shares of the basic materials company’s stock, valued at approximately $112,000.

Several other hedge funds have also modified their holdings of CCJ. Morgan Stanley grew its stake in Cameco by 5.8% during the 3rd quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock valued at $307,300,000 after purchasing an additional 428,310 shares in the last quarter. Guardian Capital LP grew its stake in Cameco by 40.7% during the 3rd quarter. Guardian Capital LP now owns 864,304 shares of the basic materials company’s stock valued at $34,451,000 after purchasing an additional 250,115 shares in the last quarter. Foster Victor Wealth Advisors LLC acquired a new stake in Cameco during the 4th quarter valued at approximately $3,956,000. Financial Insights Inc. acquired a new stake in Cameco during the 3rd quarter valued at approximately $1,942,000. Finally, Platinum Investment Management Ltd. grew its stake in Cameco by 156.3% during the 3rd quarter. Platinum Investment Management Ltd. now owns 3,089,235 shares of the basic materials company’s stock valued at $122,605,000 after purchasing an additional 1,884,004 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of recent analyst reports. StockNews.com lowered Cameco from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. The Goldman Sachs Group initiated coverage on Cameco in a research report on Monday, April 1st. They issued a “buy” rating and a $55.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.75.

Cameco Price Performance

Shares of CCJ opened at $49.35 on Friday. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 82.25 and a beta of 0.92. The stock has a 50 day moving average of $44.43 and a 200-day moving average of $43.98. The company has a current ratio of 1.55, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. Cameco Co. has a 52 week low of $25.72 and a 52 week high of $52.64.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 8th. The basic materials company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.06). Cameco had a return on equity of 5.61% and a net margin of 13.97%. The firm had revenue of $620.00 million during the quarter. As a group, analysts forecast that Cameco Co. will post 1.54 EPS 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.