Private Advisor Group LLC significantly increased its position in Cameco Co. (CCJ:NYE) during the fourth quarter, according to the latest filing with the Securities and Exchange Commission. The institutional investor purchased an additional 43,815 shares of the basic materials company, which led to a 332.1% increase in its holdings, totaling 57,009 Cameco stock shares. The total value of the shares amounted to $211,193,000 at the time of the filing.
Hedge Funds & Institutional Holdings:
Other hedge funds also made changes to their positions in Cameco recently. Ronald Blue Trust Inc. acquired a new stake in Cameco during the second quarter worth $26,000, while FNY Investment Advisers LLC purchased a new position in Cameco during the third quarter valued at $31,000.
1832 Asset Management L.P. raised its stake in Cameco by 61.9% during the first quarter and now owns 1,700 shares valued at $49,000. Bogart Wealth LLC purchased a new position in Cameco during the third quarter valued at $47,000.
Finally, James Investment Research Inc. purchased a new position in Cameco during the third quarter valued at $53,000. Institutional investors now hold 53.82% of Cameco stock.
Cameco Stock-Analyst Ratings:
Several brokerages have recently issued reports on CCJ. TD Securities upgraded Cameco to a “buy” rating in February, while Raymond James and Scotiabank boosted their price targets on Cameco stock.
Cameco Stock Price Analysis:
Cameco stock opened at $26.17 on Monday, with a market cap of $11.33 billion, a PE ratio of 153.95, and a beta of 0.95.
The company has a one year low of $20.01 and a one year high of $32.49, with a fifty day moving average of $26.92 and a 200 day moving average of $25.14. Cameco has a debt-to-equity ratio of 0.17, a quick ratio of 4.74, and a current ratio of 5.92.
As of now, Cameco stock is down by 0.3%, but there are questions about whether a new uranium bull market is here to stay.
Company Profile:
Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. 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. This segment also produces fuel bundles and assemblies, and zirconium-based reactor components for CANDU reactors. The company offers nuclear fuel processing services.
It sells its uranium and fuel services to nuclear utilities in the Americas, Europe, and Asia. Cameco Corporation was incorporated in 1987 and is headquartered in Saskatoon, Canada.
