Norges Bank Takes $188.60 Million Position in Cameco Co. (NYSE:CCJ)

Norges Bank acquired a new position in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,672,157 shares of the basic materials company’s stock, valued at approximately $188,595,000. Norges Bank owned approximately 0.84% of Cameco at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in shares of Cameco by 2.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,149 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 191 shares in the last quarter. Larson Financial Group LLC boosted its position in Cameco by 37.4% during the fourth quarter. Larson Financial Group LLC now owns 830 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Heritage Wealth Management Inc. grew its holdings in Cameco by 0.8% during the fourth quarter. Heritage Wealth Management Inc. now owns 30,875 shares of the basic materials company’s stock valued at $1,587,000 after purchasing an additional 250 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Cameco by 48.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 816 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 267 shares during the period. Finally, EdgeRock Capital LLC lifted its stake in shares of Cameco by 2.2% in the fourth quarter. EdgeRock Capital LLC now owns 13,986 shares of the basic materials company’s stock worth $719,000 after buying an additional 297 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCJ has been the topic of several recent analyst reports. Stifel Nicolaus started coverage on shares of Cameco in a report on Wednesday, March 12th. They issued a “buy” rating on the stock. StockNews.com raised Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Glj Research upped their price target on Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Finally, Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of “Buy” and an average price target of $73.64.

Cameco Stock Performance

Shares of NYSE CCJ opened at $41.83 on Monday. Cameco Co. has a one year low of $35.43 and a one year high of $62.55. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $46.42 and a 200 day simple moving average of $50.38. The firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of 149.40 and a beta of 1.04.

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

Cameco Company 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.