26,300 Shares of Cameco Corporation $CCJ Bought by Financial Enhancement Group LLC

Financial Enhancement Group LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,300 shares of the basic materials company’s stock, valued at approximately $2,343,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Titleist Asset Management LLC grew its holdings in Cameco by 4.7% during the third quarter. Titleist Asset Management LLC now owns 18,261 shares of the basic materials company’s stock valued at $1,583,000 after purchasing an additional 815 shares during the period. Ausbil Investment Management Ltd lifted its position in shares of Cameco by 714.3% during the 3rd quarter. Ausbil Investment Management Ltd now owns 5,700 shares of the basic materials company’s stock valued at $495,000 after buying an additional 5,000 shares during the last quarter. Venture Visionary Partners LLC grew its stake in shares of Cameco by 17.4% during the 3rd quarter. Venture Visionary Partners LLC now owns 3,157 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 467 shares during the period. Canandaigua National Bank & Trust Co. bought a new position in shares of Cameco during the 3rd quarter worth $270,000. Finally, Congress Asset Management Co. purchased a new stake in Cameco in the 3rd quarter worth about $11,195,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCJ. Zacks Research cut Cameco from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Barclays dropped their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Jefferies Financial Group initiated coverage on shares of Cameco in a report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price objective for the company. Finally, Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $148.68.

Cameco Price Performance

Shares of CCJ traded down $1.89 during midday trading on Thursday, hitting $87.19. 3,429,852 shares of the company traded hands, compared to its average volume of 3,535,929. The stock has a 50-day moving average of $95.09 and a 200-day moving average of $102.48. Cameco Corporation has a one year low of $77.70 and a one year high of $135.24. The firm has a market cap of $37.97 billion, a P/E ratio of 147.77, a PEG ratio of 1.89 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. During the same period in the prior year, the firm posted $0.71 EPS. Cameco’s revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Cameco Corporation will post 1.07 EPS for the current fiscal year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.