HighPoint Advisor Group LLC Makes New $483,000 Investment in Cameco Co. (NYSE:CCJ)

HighPoint Advisor Group LLC purchased a new position in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,684 shares of the basic materials company's stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dantai Capital Ltd boosted its stake in Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company's stock worth $2,735,000 after purchasing an additional 17,560 shares during the period. Roberts Wealth Advisors LLC bought a new position in shares of Cameco during the fourth quarter worth $895,000. Whalen Wealth Management Inc. purchased a new position in Cameco during the fourth quarter valued at $445,000. Sprott Inc. increased its holdings in Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company's stock valued at $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 Cameco in the 3rd quarter worth $5,305,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CCJ. Sanford C. Bernstein assumed coverage on Cameco in a research report on Tuesday, April 1st. They set an "outperform" rating and a $52.00 price objective for the company. Royal Bank of Canada restated an "outperform" rating and set a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. StockNews.com cut Cameco from a "hold" rating to a "sell" rating in a report on Wednesday. Stifel Canada raised shares of Cameco to a "strong-buy" rating in a report on Wednesday, March 12th. Finally, Desjardins started coverage on shares of Cameco in a research note on Friday. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $70.03.

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Cameco Trading Down 7.6 %

CCJ stock traded down $3.12 during mid-day trading on Friday, reaching $37.80. The company had a trading volume of 9,417,889 shares, compared to its average volume of 4,107,877. The company has a market capitalization of $16.45 billion, a PE ratio of 134.98 and a beta of 1.04. The firm has a 50 day moving average of $45.02 and a 200 day moving average of $50.39. Cameco Co. has a 12 month low of $35.43 and a 12 month high of $62.55. 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 - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $845.54 million for the quarter, compared to analysts' expectations of $1.09 billion. Cameco had a return on equity of 4.34% and a net margin of 5.39%. On average, equities analysts predict that Cameco Co. will post 1.27 earnings per share for the current fiscal year.

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.