Integrated Advisors Network LLC bought a new stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,294 shares of the basic materials company’s stock, valued at approximately $684,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CCJ. Norges Bank acquired a new position in shares of Cameco in the 4th quarter worth approximately $443,265,000. Marshall Wace LLP boosted its stake in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after buying an additional 1,729,454 shares in the last quarter. Mizuho Markets Cayman LP acquired a new stake in Cameco in the 3rd quarter valued at $128,370,000. Northwestern Mutual Wealth Management Co. grew its position in Cameco by 14,338.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after acquiring an additional 1,104,378 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Cameco by 32.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,291,202 shares of the basic materials company’s stock valued at $360,063,000 after acquiring an additional 1,060,842 shares during the period. 70.21% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
CCJ has been the subject of a number of analyst reports. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Barclays started coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 target price on the stock. William Blair initiated coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating for the company. Bank of America cut their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday. Finally, Royal Bank Of Canada boosted their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.11.
Cameco Trading Up 1.1%
Shares of NYSE CCJ opened at $95.78 on Friday. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The company has a market cap of $41.72 billion, a PE ratio of 88.69, a P/E/G ratio of 1.74 and a beta of 1.02. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $107.21 and a two-hundred day moving average of $110.91.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Cameco’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Cameco Corporation will post 1.2 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.
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