HighTower Advisors LLC Buys 61,619 Shares of Cameco Corporation $CCJ

HighTower Advisors LLC boosted its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 358,084 shares of the basic materials company’s stock after purchasing an additional 61,619 shares during the quarter. HighTower Advisors LLC’s holdings in Cameco were worth $32,761,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 purchasing an additional 110,629 shares during the period. NWF Advisory Services Inc. bought a new stake in Cameco during the third quarter worth approximately $1,996,000. Mediolanum International Funds Ltd boosted its position in Cameco by 165.5% during the third quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock worth $2,894,000 after purchasing an additional 21,361 shares during the period. Allianz Asset Management GmbH boosted its position in Cameco by 278.3% during the third quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock worth $12,208,000 after purchasing an additional 106,987 shares during the period. Finally, Myriad Asset Management US LP bought a new stake in Cameco during the third quarter worth approximately $1,640,000. Institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CCJ shares. William Blair started coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Glj Research reissued a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco Stock Down 0.6%

CCJ opened at $104.71 on Friday. Cameco Corporation has a 1-year low of $55.11 and a 1-year high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $45.61 billion, a price-to-earnings ratio of 96.96, a P/E/G ratio of 1.78 and a beta of 1.04. The business has a 50 day moving average of $113.20 and a 200-day moving average of $107.18.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the prior year, the business earned $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current year.

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.