Pinnacle Associates Ltd. Has $23.95 Million Position in Cameco Co. (NYSE:CCJ)

Pinnacle Associates Ltd. increased its holdings in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 501,536 shares of the basic materials company’s stock after purchasing an additional 23,122 shares during the period. Pinnacle Associates Ltd. owned approximately 0.12% of Cameco worth $23,953,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCJ. Silvia Mccoll Wealth Management LLC grew its stake in shares of Cameco by 3.9% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock worth $268,000 after acquiring an additional 210 shares during the last quarter. EdgeRock Capital LLC raised its position in shares of Cameco by 1.7% during the third quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after buying an additional 224 shares during the last quarter. LRI Investments LLC increased its stake in Cameco by 39.0% during the second quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 234 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Cameco by 71.5% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Finally, S.A. Mason LLC grew its holdings in shares of Cameco by 8.1% during the 2nd quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 0.8 %

CCJ stock traded down $0.46 during midday trading on Wednesday, reaching $54.31. The company’s stock had a trading volume of 1,178,537 shares, compared to its average volume of 4,396,438. The business’s 50-day simple moving average is $46.51 and its 200-day simple moving average is $47.95. The stock has a market cap of $23.63 billion, a PE ratio of 139.67 and a beta of 0.90. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $58.72. The company has a quick ratio of 1.48, a current ratio of 3.22 and a debt-to-equity ratio of 0.23.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. As a group, sell-side analysts expect that Cameco Co. will post 0.83 EPS for the current year.

Analyst Ratings Changes

CCJ has been the topic of a number of recent research reports. Scotiabank decreased their price target on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Glj Research reaffirmed a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a report on Friday, October 4th. National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus 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.