Envestnet Asset Management Inc. Acquires 179,387 Shares of Cameco Corporation (NYSE:CCJ)

Envestnet Asset Management Inc. increased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 66.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,581 shares of the basic materials company’s stock after acquiring an additional 179,387 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Cameco worth $18,422,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. FMR LLC boosted its position in Cameco by 8.7% in the 4th quarter. FMR LLC now owns 22,639,647 shares of the basic materials company’s stock valued at $1,163,942,000 after buying an additional 1,811,876 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cameco by 1.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company’s stock valued at $865,729,000 after buying an additional 190,337 shares during the last quarter. Vanguard Group Inc. boosted its position in Cameco by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company’s stock valued at $862,997,000 after buying an additional 270,102 shares during the last quarter. Alliancebernstein L.P. boosted its position in Cameco by 13.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company’s stock valued at $518,443,000 after buying an additional 1,196,336 shares during the last quarter. Finally, Norges Bank bought a new position in Cameco in the 4th quarter valued at $188,595,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of recent research reports. Wall Street Zen upgraded Cameco from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Glj Research reiterated a “buy” rating and issued a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. UBS Group reiterated a “buy” rating on shares of Cameco in a research report on Tuesday, June 10th. Scotiabank reissued an “outperform” rating on shares of Cameco in a research note on Tuesday, July 8th. Finally, Sanford C. Bernstein set a $70.00 price target on Cameco and gave the company an “outperform” rating in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Cameco presently has a consensus rating of “Buy” and a consensus target price of $80.65.

Cameco Stock Performance

Shares of Cameco stock opened at $76.19 on Thursday. The company has a market capitalization of $33.17 billion, a PE ratio of 190.49 and a beta of 1.03. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $76.75. The company has a current ratio of 2.70, a quick ratio of 1.26 and a debt-to-equity ratio of 0.15. The stock’s fifty day simple moving average is $64.24 and its 200 day simple moving average is $52.15.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $549.58 million for the quarter, compared to the consensus estimate of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. Cameco’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. On average, research analysts predict that Cameco Corporation will post 1.27 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.