Magnetar Financial LLC Takes Position in Cameco Corporation $CCJ

Magnetar Financial LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 80,188 shares of the basic materials company’s stock, valued at approximately $6,725,000.

Several other large investors have also bought and sold shares of CCJ. Financial Consulate Inc. bought a new position in Cameco in the third quarter valued at about $25,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Cameco by 110.3% in the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 182 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of Cameco in the 2nd quarter valued at approximately $35,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Cameco in the 3rd quarter valued at approximately $37,000. Finally, Tobam grew its holdings in shares of Cameco by 389.1% during the 3rd quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 358 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 3.4%

NYSE:CCJ opened at $120.14 on Wednesday. The firm’s 50 day simple moving average is $115.41 and its 200 day simple moving average is $97.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The company has a market cap of $52.32 billion, a PE ratio of 123.85 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CCJ shares. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce upped their price target on shares of Cameco to $202.00 in a report on Monday. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.40.

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.