OVERSEA CHINESE BANKING Corp Ltd Grows Stake in Cameco Co. (NYSE:CCJ)

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO by 17.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,423 shares of the basic materials company's stock after buying an additional 21,542 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cameco were worth $7,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new stake in shares of Cameco in the 4th quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Cameco during the 4th quarter worth approximately $28,000. Pingora Partners LLC purchased a new position in shares of Cameco during the 3rd quarter worth approximately $33,000. Whipplewood Advisors LLC purchased a new stake in shares of Cameco in the 4th quarter worth approximately $33,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of Cameco in the 4th quarter worth approximately $36,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCJ has been the topic of several analyst reports. StockNews.com raised Cameco from a "sell" rating to a "hold" rating in a research report on Wednesday. Stifel Canada raised Cameco to a "strong-buy" rating in a research report on Wednesday, March 12th. Glj Research upped their price objective on Cameco from $62.76 to $75.68 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Royal Bank of Canada reissued an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Finally, Stifel Nicolaus assumed coverage on Cameco in a report on Wednesday, March 12th. They set a "buy" rating on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $73.64.

Remove Ads

Cameco Stock Performance

Cameco stock traded down $0.24 during trading on Friday, reaching $44.62. The company had a trading volume of 2,990,101 shares, compared to its average volume of 4,096,565. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $62.55. The firm's 50-day simple moving average is $47.03 and its 200 day simple moving average is $50.10. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 159.34 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20.

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