Cameco Corporation (NYSE:CCJ) Shares Purchased by Balefire LLC

Balefire LLC increased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 42.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,601 shares of the basic materials company’s stock after buying an additional 10,081 shares during the period. Balefire LLC’s holdings in Cameco were worth $1,383,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CCJ. Hurley Capital LLC acquired a new position in shares of Cameco in the fourth quarter worth $27,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Cameco in the fourth quarter valued at $28,000. Whipplewood Advisors LLC purchased a new position in Cameco in the fourth quarter valued at $33,000. Copia Wealth Management acquired a new position in Cameco during the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. purchased a new stake in Cameco during the 4th quarter worth about $40,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCJ. The Goldman Sachs Group lifted their price objective on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Stifel Canada upgraded shares of Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, June 18th. UBS Group reiterated a “buy” rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an “outperform” rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cameco has an average rating of “Buy” and a consensus target price of $77.30.

Cameco Stock Performance

Shares of CCJ opened at $71.47 on Thursday. The company has a market capitalization of $31.11 billion, a price-to-earnings ratio of 178.68 and a beta of 0.97. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $72.79. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $55.52 and a 200 day moving average price of $50.15.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 EPS. Research analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

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.