Cameco Co. (NYSE:CCJ) Stock Position Raised by Old West Investment Management LLC

Old West Investment Management LLC grew its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 10.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 282,072 shares of the basic materials company’s stock after acquiring an additional 26,584 shares during the period. Cameco comprises 4.8% of Old West Investment Management LLC’s portfolio, making the stock its 4th biggest holding. Old West Investment Management LLC’s holdings in Cameco were worth $13,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its holdings in shares of Cameco by 207.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,990 shares of the basic materials company’s stock worth $346,000 after acquiring an additional 5,390 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Cameco by 99.3% in the 1st quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 600 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Cameco in the 1st quarter worth approximately $198,000. Manchester Capital Management LLC purchased a new stake in Cameco in the first quarter worth approximately $312,000. Finally, Kayne Anderson Capital Advisors LP bought a new position in Cameco during the first quarter valued at approximately $8,096,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of NYSE CCJ opened at $51.27 on Wednesday. The firm has a market cap of $22.31 billion, a P/E ratio of 119.23 and a beta of 0.89. The company has a 50 day moving average of $47.56 and a 200 day moving average of $48.09. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $58.72. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

CCJ has been the subject of a number of recent research reports. Scotiabank lowered their price objective on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. National Bank Financial raised Cameco to a “strong-buy” rating in a research note on Tuesday, September 3rd. Glj Research restated a “buy” rating and set a $63.73 target price on shares of Cameco in a report on Wednesday, August 14th. Finally, Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research note on Friday, October 4th. One investment 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. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $66.56.

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.