Canada Pension Plan Investment Board bought a new position in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) during the second quarter, Holdings Channel.com reports. The fund bought 4,128,072 shares of the basic materials company’s stock, valued at approximately $420,346,000.
A number of other large investors have also recently made changes to their positions in CCJ. Temasek Holdings Private Ltd purchased a new stake in Cameco in the first quarter valued at approximately $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its position in Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock valued at $58,187,000 after purchasing an additional 139,592 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Cameco during the 1st quarter worth $35,342,000. Amova Asset Management Americas Inc. grew its position in Cameco by 37.7% during the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock worth $56,788,000 after purchasing an additional 143,113 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Cameco by 102.3% in the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock valued at $16,883,000 after purchasing an additional 78,609 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on CCJ shares. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus target price of $145.68.
Cameco Stock Performance
NYSE CCJ opened at $107.03 on Wednesday. The stock has a market capitalization of $46.61 billion, a price-to-earnings ratio of 181.40, a PEG ratio of 1.75 and a beta of 1.05. The business’s 50 day moving average is $96.10 and its two-hundred day moving average is $107.18. Cameco Corporation has a 12-month low of $73.20 and a 12-month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.
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.
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