Patten & Patten Inc. TN Increases Stake in Cameco Co. (NYSE:CCJ)

Patten & Patten Inc. TN increased its holdings in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 38.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,685 shares of the basic materials company’s stock after acquiring an additional 2,680 shares during the period. Patten & Patten Inc. TN’s holdings in Cameco were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CCJ. Old West Investment Management LLC boosted its stake in shares of Cameco by 10.4% in the 3rd quarter. Old West Investment Management LLC now owns 282,072 shares of the basic materials company’s stock valued at $13,472,000 after purchasing an additional 26,584 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Cameco by 1,138.1% in the 3rd quarter. Principal Financial Group Inc. now owns 267,431 shares of the basic materials company’s stock valued at $12,774,000 after purchasing an additional 245,831 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Cameco by 9.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,397 shares of the basic materials company’s stock valued at $1,547,000 after buying an additional 2,859 shares during the period. Huntington National Bank boosted its position in Cameco by 8.2% during the 3rd quarter. Huntington National Bank now owns 13,827 shares of the basic materials company’s stock valued at $660,000 after buying an additional 1,045 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Cameco during the 3rd quarter valued at $768,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $90.00 price target on shares of Cameco in a research report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They set a “buy” rating for the company. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Tuesday, March 11th. Stifel Canada raised shares of Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Glj Research upped their price objective on shares of Cameco from $62.76 to $75.68 and gave the stock a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $73.64.

Cameco Stock Up 1.5 %

Shares of NYSE CCJ opened at $42.44 on Monday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $47.80 and a two-hundred day simple moving average of $50.03. The firm has a market capitalization of $18.47 billion, a PE ratio of 151.55 and a beta of 1.04. 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 quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $845.54 million during the quarter, compared to analyst estimates of $1.09 billion. Cameco had a net margin of 5.39% and a return on equity of 4.34%. Equities analysts expect that Cameco Co. will post 1.27 earnings per share 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.