Magnetar Financial LLC Takes $6.73 Million Position in Cameco Corporation $CCJ

Magnetar Financial LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 80,188 shares of the basic materials company’s stock, valued at approximately $6,725,000.

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in Cameco by 3.1% during the third quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 120 shares during the last quarter. Lee Johnson Capital Management LLC raised its position in shares of Cameco by 1.2% in the 3rd quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock worth $903,000 after acquiring an additional 127 shares in the last quarter. Wealth Alliance LLC raised its position in shares of Cameco by 1.6% in the 2nd quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock worth $745,000 after acquiring an additional 154 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Cameco by 11.2% in the 3rd quarter. Versant Capital Management Inc now owns 1,590 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 160 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of Cameco by 4.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,758 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCJ shares. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Royal Bank Of Canada raised their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Cameco to $202.00 in a research note on Monday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Stock Up 3.4%

CCJ stock opened at $120.14 on Wednesday. The stock’s 50 day simple moving average is $115.41 and its 200 day simple moving average is $97.15. The company has a market cap of $52.32 billion, a P/E ratio of 123.85 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

About Cameco

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.