Cassaday & Co Wealth Management LLC Makes New $206,000 Investment in Cameco Co. (NYSE:CCJ)

Cassaday & Co Wealth Management LLC purchased a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the basic materials company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc raised its position in shares of Cameco by 58.0% in the third quarter. CIBC Asset Management Inc now owns 3,777,866 shares of the basic materials company’s stock valued at $181,382,000 after purchasing an additional 1,386,639 shares during the period. M&G PLC purchased a new position in Cameco in the 3rd quarter valued at approximately $66,227,000. Segra Capital Management LLC bought a new stake in Cameco during the 3rd quarter valued at $53,013,000. Fred Alger Management LLC lifted its position in shares of Cameco by 99.7% during the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock worth $80,249,000 after acquiring an additional 839,077 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Cameco by 44.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,151,105 shares of the basic materials company’s stock worth $102,737,000 after acquiring an additional 664,828 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 6.4 %

CCJ opened at $43.56 on Friday. The firm has a market capitalization of $18.96 billion, a P/E ratio of 229.25 and a beta of 0.94. Cameco Co. has a one year low of $35.43 and a one year high of $62.55. The company has a fifty day moving average price of $51.00 and a 200-day moving average price of $49.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.88 and a quick ratio of 1.26.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Cameco had a return on equity of 3.33% and a net margin of 4.15%. The firm had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. Equities research analysts expect that Cameco Co. will post 0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com upgraded Cameco from a “sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $66.56.

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.