ARK Investment Management LLC Raises Stock Position in Cameco Corporation $CCJ

ARK Investment Management LLC grew its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 15.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 321,040 shares of the basic materials company’s stock after acquiring an additional 43,191 shares during the period. ARK Investment Management LLC’s holdings in Cameco were worth $26,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Consulate Inc. purchased a new position in Cameco during the 3rd quarter worth $25,000. Armstrong Advisory Group Inc. grew its position in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of Cameco during the second quarter valued at $35,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Cameco by 936.2% in the second quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 440 shares in the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Cameco in the third quarter valued at about $37,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Up 2.0%

NYSE CCJ opened at $120.10 on Thursday. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The company has a 50 day moving average price of $113.61 and a 200 day moving average price of $95.82. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The firm has a market cap of $52.31 billion, a PE ratio of 123.81 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CCJ shares. The Goldman Sachs Group reiterated a “buy” rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Glj Research reiterated a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.03.

Cameco Profile

Cameco Corporation (NYSE: CCJ) is a leading producer of uranium and a supplier to the global nuclear power industry. Headquartered in Saskatoon, Saskatchewan, Canada, the company is engaged in the exploration, mining, milling and sale of uranium concentrate, commonly known as yellowcake, which is used as fuel for nuclear reactors. Cameco also participates in services and activities that support the front end of the nuclear fuel cycle, including processing and marketing of uranium to utilities under long‑term and spot contracts.

The company’s operations have historically centered in Canada and the United States, where it operates and develops uranium mining and processing properties.