Barometer Capital Management Inc. Raises Holdings in Cameco Corporation $CCJ

Barometer Capital Management Inc. raised its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 28.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,700 shares of the basic materials company’s stock after buying an additional 33,050 shares during the quarter. Cameco comprises about 3.2% of Barometer Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Barometer Capital Management Inc.’s holdings in Cameco were worth $12,470,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCJ. Abbington Investment Group purchased a new position in shares of Cameco in the third quarter worth $6,506,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock worth $20,964,000 after buying an additional 110,629 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock valued at $12,593,000 after buying an additional 105,523 shares during the last quarter. NWF Advisory Services Inc. acquired a new position in shares of Cameco in the 3rd quarter valued at $1,996,000. Finally, Thames Capital Management LLC increased its position in shares of Cameco by 66.8% in the 3rd quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock valued at $8,978,000 after acquiring an additional 42,879 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 3.9%

Shares of NYSE CCJ opened at $115.37 on Thursday. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 118.94 and a beta of 0.98. The company’s 50-day simple moving average is $115.89 and its 200-day simple moving average is $97.28. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CCJ shares. Glj Research reaffirmed a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.40.

About Cameco

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.