Means Investment CO. Inc. Invests $1.12 Million in Cameco Corporation $CCJ

Means Investment CO. Inc. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,320 shares of the basic materials company’s stock, valued at approximately $1,117,000.

Several other hedge funds also recently modified their holdings of CCJ. Financial Consulate Inc. purchased a new position in shares of Cameco during the 3rd quarter worth about $25,000. Armstrong Advisory Group Inc. increased its position in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Cameco during the third quarter worth approximately $37,000. VSM Wealth Advisory LLC acquired a new position in shares of Cameco in the 2nd quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of Cameco by 936.2% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after buying an additional 440 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Up 6.2%

CCJ stock opened at $120.69 on Tuesday. The firm has a market cap of $52.56 billion, a price-to-earnings ratio of 140.34 and a beta of 0.99. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $135.24. The firm has a fifty day moving average price of $104.36 and a two-hundred day moving average price of $90.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85.

Analyst Ratings Changes

CCJ has been the topic of several research reports. Royal Bank Of Canada cut their price target on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, November 13th. UBS Group started coverage on shares of Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price target for the company. Scotiabank reissued an “outperform” rating on shares of Cameco in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $131.39.

Cameco Profile

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.