iA Global Asset Management Inc. Buys Shares of 103,500 Cameco Co. (NYSE:CCJ)

iA Global Asset Management Inc. purchased a new position in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 103,500 shares of the basic materials company’s stock, valued at approximately $4,484,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Cameco during the 4th quarter valued at $99,511,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cameco by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock worth $581,558,000 after purchasing an additional 869,404 shares during the period. National Bank of Canada FI grew its position in Cameco by 25.6% during the fourth quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock valued at $175,714,000 after buying an additional 850,704 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Cameco during the 1st quarter valued at $31,131,000. Finally, Trexquant Investment LP bought a new stake in Cameco during the fourth quarter valued at about $19,955,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of NYSE:CCJ traded down $4.48 during mid-day trading on Thursday, reaching $41.01. The stock had a trading volume of 8,505,801 shares, compared to its average volume of 4,340,109. The company has a market cap of $17.85 billion, a P/E ratio of 104.90 and a beta of 0.91. The business’s 50 day moving average price is $50.79 and its 200 day moving average price is $47.76. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17. Cameco Co. has a 1 year low of $31.58 and a 1 year high of $56.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.23). Cameco had a net margin of 9.28% and a return on equity of 4.60%. The firm had revenue of $470.29 million for the quarter. Research analysts expect that Cameco Co. will post 1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCJ. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Bank of America raised their price target on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.70.

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.