Oppenheimer Asset Management Inc. Buys Shares of 3,598 Cameco Corporation $CCJ

Oppenheimer Asset Management Inc. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,598 shares of the basic materials company’s stock, valued at approximately $267,000.

Several other large investors also recently added to or reduced their stakes in CCJ. Bison Wealth LLC grew its holdings in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after buying an additional 2,975 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Cameco by 30.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,183 shares of the basic materials company’s stock valued at $337,000 after buying an additional 1,908 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in Cameco by 50.3% in the 1st quarter. DAVENPORT & Co LLC now owns 15,531 shares of the basic materials company’s stock valued at $639,000 after buying an additional 5,200 shares in the last quarter. Private Trust Co. NA grew its holdings in Cameco by 315.2% in the 1st quarter. Private Trust Co. NA now owns 1,229 shares of the basic materials company’s stock valued at $51,000 after buying an additional 933 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its holdings in Cameco by 13.8% in the 1st quarter. OneDigital Investment Advisors LLC now owns 23,953 shares of the basic materials company’s stock valued at $986,000 after buying an additional 2,912 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $102.18 on Monday. The stock’s 50-day moving average price is $84.88 and its 200 day moving average price is $71.72. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $110.15. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The firm has a market cap of $44.49 billion, a price-to-earnings ratio of 117.44 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a return on equity of 8.21% and a net margin of 14.97%.The firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same quarter in the prior year, the company earned $0.14 EPS. Cameco’s revenue was up 46.7% on a year-over-year basis. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

CCJ has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Cameco from $95.00 to $109.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada increased their price target on Cameco from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. CLSA initiated coverage on Cameco in a report on Tuesday, September 9th. They set an “outperform” rating and a $102.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating on shares of Cameco in a report on Friday, August 29th. Finally, Raymond James Financial increased their price target on Cameco to $150.00 in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $102.61.

Cameco 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.