Floyd Financial Group LLC Increases Stock Holdings in Cameco Co. (NYSE:CCJ)

Floyd Financial Group LLC lifted its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 2.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,187 shares of the basic materials company’s stock after buying an additional 454 shares during the quarter. Floyd Financial Group LLC’s holdings in Cameco were worth $790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new stake in Cameco during the 4th quarter valued at $25,000. Hurley Capital LLC purchased a new stake in shares of Cameco in the fourth quarter valued at $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Cameco in the fourth quarter valued at $28,000. Whipplewood Advisors LLC acquired a new stake in shares of Cameco during the fourth quarter valued at $33,000. Finally, Compass Planning Associates Inc purchased a new stake in Cameco during the 4th quarter worth about $36,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ opened at $59.71 on Wednesday. Cameco Co. has a 1 year low of $35.00 and a 1 year high of $62.55. The company’s 50 day simple moving average is $46.91 and its 200 day simple moving average is $49.20. The stock has a market capitalization of $25.99 billion, a PE ratio of 213.25 and a beta of 0.89. 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 (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. During the same quarter last year, the business earned $0.13 EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cameco Co. will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CCJ. Scotiabank restated an “outperform” rating on shares of Cameco in a report on Wednesday, May 14th. Stifel Nicolaus initiated coverage on shares of Cameco in a report on Wednesday, March 12th. They set a “buy” rating for the company. The Goldman Sachs Group initiated coverage on shares of Cameco in a research note on Tuesday, May 20th. They set a “buy” rating and a $65.00 price objective on the stock. Glj Research raised their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, Wall Street Zen upgraded Cameco from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $70.53.

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.