Tocqueville Asset Management L.P. Increases Stake in Cameco Co. (NYSE:CCJ)

Tocqueville Asset Management L.P. boosted its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 0.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 979,246 shares of the basic materials company’s stock after acquiring an additional 7,215 shares during the quarter. Cameco comprises 0.8% of Tocqueville Asset Management L.P.’s holdings, making the stock its 27th biggest position. Tocqueville Asset Management L.P.’s holdings in Cameco were worth $50,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dantai Capital Ltd boosted its stake in shares of Cameco by 44.2% in the third quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after buying an additional 17,560 shares in the last quarter. Roberts Wealth Advisors LLC acquired a new position in Cameco in the fourth quarter valued at $895,000. Whalen Wealth Management Inc. acquired a new position in Cameco in the fourth quarter valued at $445,000. Sprott Inc. increased its stake in Cameco by 44.5% during the fourth quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock worth $5,750,000 after acquiring an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of Cameco in the third quarter worth about $5,305,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CCJ shares. Stifel Nicolaus started coverage on Cameco in a research note on Wednesday, March 12th. They set a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Stifel Canada upgraded Cameco to a “strong-buy” rating in a report on Wednesday, March 12th. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Finally, Glj Research boosted their price target on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Buy” and a consensus price target of $73.64.

Cameco Price Performance

Shares of NYSE:CCJ opened at $42.44 on Monday. The firm has a market cap of $18.47 billion, a PE ratio of 151.55 and a beta of 1.04. 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 Co. has a 52 week low of $35.43 and a 52 week high of $62.55. The firm’s fifty day moving average is $47.80 and its 200-day moving average is $50.03.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The company had revenue of $845.54 million during the quarter, compared to the consensus estimate of $1.09 billion. Sell-side analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

About Cameco

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.