HighPoint Advisor Group LLC Takes $483,000 Position in Cameco Co. (NYSE:CCJ)

HighPoint Advisor Group LLC bought a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,684 shares of the basic materials company’s stock, valued at approximately $483,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dantai Capital Ltd raised its holdings in shares of Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after buying an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new position in Cameco during the fourth quarter worth $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco during the fourth quarter worth $445,000. Sprott Inc. lifted its holdings in shares of Cameco by 44.5% during the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after acquiring an additional 34,483 shares during the period. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Cameco in the 3rd quarter valued at $5,305,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Stifel Nicolaus started coverage on shares of Cameco in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Sanford C. Bernstein assumed coverage on Cameco in a report on Tuesday. They set an “outperform” rating and a $52.00 price target for the company. Glj Research boosted their price objective on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Finally, Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $70.03.

Cameco Stock Up 1.7 %

NYSE CCJ opened at $42.49 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.88. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $62.55. The stock has a market capitalization of $18.50 billion, a P/E ratio of 151.75 and a beta of 1.04. The stock has a fifty day moving average of $45.70 and a 200-day moving average of $50.33.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The firm had revenue of $845.54 million during the quarter, compared to analysts’ expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, equities research analysts forecast that Cameco Co. will post 1.27 EPS for the current year.

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.