Marvin & Palmer Associates Inc. Takes $3.18 Million Position in Cameco Corporation $CCJ

Marvin & Palmer Associates Inc. acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, Holdings Channel reports. The firm acquired 37,895 shares of the basic materials company’s stock, valued at approximately $3,178,000. Cameco accounts for 2.8% of Marvin & Palmer Associates Inc.’s holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Abbington Investment Group bought a new position in Cameco in the third quarter worth approximately $6,506,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cameco by 79.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after acquiring an additional 110,629 shares during the period. Nwam LLC grew its position in shares of Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company’s stock valued at $6,304,000 after acquiring an additional 8,519 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Cameco by 165.1% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock valued at $12,593,000 after acquiring an additional 105,523 shares during the period. Finally, NWF Advisory Services Inc. purchased a new stake in shares of Cameco in the 3rd quarter worth $1,996,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ stock opened at $109.77 on Friday. 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 company’s fifty day moving average price is $114.36 and its 200-day moving average price is $96.33. Cameco Corporation has a one year low of $35.00 and a one year high of $135.24. The company has a market capitalization of $47.81 billion, a PE ratio of 113.16 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 analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. Cameco’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the topic of a number of recent research reports. Glj Research reaffirmed a “buy” rating and issued a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Finally, UBS Group started coverage on Cameco in a research note on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.03.

Cameco 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.