Raymond James Financial Inc. Makes New Investment in Cameco Co. (NYSE:CCJ)

Raymond James Financial Inc. purchased a new stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 670,167 shares of the basic materials company’s stock, valued at approximately $34,440,000.

A number of other hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in shares of Cameco in the fourth quarter valued at about $25,000. Pingora Partners LLC bought a new position in shares of Cameco in the third quarter valued at approximately $33,000. Whipplewood Advisors LLC bought a new position in shares of Cameco in the fourth quarter valued at approximately $33,000. Compass Planning Associates Inc bought a new position in Cameco in the 4th quarter worth approximately $36,000. Finally, First Horizon Advisors Inc. raised its position in Cameco by 84.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 768 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 351 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on CCJ shares. Royal Bank of Canada reiterated an “outperform” rating and set a $90.00 target price on shares of Cameco in a research report on Tuesday, March 4th. Glj Research upped their target price on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Stifel Nicolaus began coverage on shares of Cameco in a report on Wednesday. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $41.75 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.88 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.17 billion, a PE ratio of 149.09 and a beta of 1.04. The company’s 50 day moving average price is $48.01 and its two-hundred day moving average price is $49.91. Cameco Co. has a 12-month low of $35.43 and a 12-month high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The firm had revenue of $845.54 million for the quarter, compared to analyst estimates of $1.09 billion. Equities research analysts predict that Cameco Co. will post 1.27 earnings per share 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.