Spark Investment Management LLC Buys New Stake in Cameco Corporation $CCJ

Spark Investment Management LLC acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the basic materials company’s stock, valued at approximately $839,000. Cameco accounts for approximately 2.1% of Spark Investment Management LLC’s investment portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of CCJ. Vanguard Group Inc. grew its position in Cameco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock worth $1,493,978,000 after purchasing an additional 235,613 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. TD Asset Management Inc boosted its position in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after acquiring an additional 2,489,207 shares in the last quarter. Norges Bank acquired a new stake in shares of Cameco during the 2nd quarter valued at about $341,736,000. Finally, Geode Capital Management LLC increased its stake in Cameco by 20.7% in the second quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock valued at $250,797,000 after acquiring an additional 578,393 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ stock opened at $118.36 on Monday. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The stock has a market capitalization of $51.55 billion, a PE ratio of 122.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock’s fifty day moving average is $111.91 and its 200-day moving average is $95.00.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CCJ. Raymond James Financial restated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Glj Research restated a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut shares of Cameco from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Company Profile

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.