Wellington Shields Capital Management LLC Purchases 277,145 Shares of Cameco Co. (NYSE:CCJ)

Wellington Shields Capital Management LLC raised its position in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 1,898.3% during the fourth quarter, Holdings Channel reports. The fund owned 291,745 shares of the basic materials company’s stock after acquiring an additional 277,145 shares during the period. Cameco comprises approximately 1.3% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Wellington Shields Capital Management LLC’s holdings in Cameco were worth $14,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Dantai Capital Ltd raised its position in shares of Cameco by 44.2% during the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock valued at $2,735,000 after purchasing an additional 17,560 shares during the period. Roberts Wealth Advisors LLC purchased a new position in shares of Cameco in the fourth quarter valued at about $895,000. Whalen Wealth Management Inc. purchased a new stake in shares of Cameco during the fourth quarter worth about $445,000. Sprott Inc. raised its stake in Cameco by 44.5% during the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after purchasing an additional 34,483 shares during the period. Finally, iA Global Asset Management Inc. bought a new position in Cameco in the 3rd quarter worth approximately $5,305,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CCJ shares. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 target price on shares of Cameco in a report on Tuesday, March 4th. Glj Research raised their price objective on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus assumed coverage on Cameco in a research report on Wednesday. They issued a “buy” rating on the stock. Finally, StockNews.com downgraded Cameco from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $73.64.

Cameco Trading Down 2.0 %

Shares of CCJ opened at $41.75 on Friday. The company’s fifty day simple moving average is $48.01 and its 200-day simple moving average is $49.91. The company has a market cap of $18.17 billion, a P/E ratio of 149.09 and a beta of 1.04. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55.

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