Mufg Securities Canada LTD. Buys 278,356 Shares of Cameco Co. (NYSE:CCJ)

Mufg Securities Canada LTD. grew its position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 72.1% in the fourth quarter, HoldingsChannel reports. The firm owned 664,548 shares of the basic materials company’s stock after buying an additional 278,356 shares during the quarter. Cameco accounts for approximately 1.2% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 21st largest holding. Mufg Securities Canada LTD.’s holdings in Cameco were worth $34,147,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AGF Management Ltd. grew its stake in shares of Cameco by 54.2% in the 4th quarter. AGF Management Ltd. now owns 3,393,233 shares of the basic materials company’s stock worth $174,433,000 after buying an additional 1,193,266 shares in the last quarter. Segra Capital Management LLC bought a new stake in Cameco during the third quarter worth approximately $53,013,000. Fred Alger Management LLC raised its position in Cameco by 99.7% during the third quarter. Fred Alger Management LLC now owns 1,680,259 shares of the basic materials company’s stock valued at $80,249,000 after purchasing an additional 839,077 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Cameco in the 4th quarter valued at approximately $34,440,000. Finally, Van ECK Associates Corp increased its position in shares of Cameco by 34.6% during the 4th quarter. Van ECK Associates Corp now owns 2,132,615 shares of the basic materials company’s stock valued at $109,592,000 after purchasing an additional 547,793 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Down 2.8 %

Shares of NYSE:CCJ opened at $44.47 on Wednesday. The business’s 50 day moving average is $46.88 and its 200 day moving average is $50.28. The stock has a market cap of $19.36 billion, a P/E ratio of 158.82 and a beta of 1.04. Cameco Co. has a 52-week low of $35.43 and a 52-week high of $62.55. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on CCJ. Stifel Nicolaus assumed coverage on shares of Cameco in a research note on Wednesday, March 12th. They set a “buy” rating for the company. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada restated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Finally, Glj Research increased 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. One investment 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, the stock has a consensus rating of “Buy” and an average price target of $73.64.

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.