Lombard Odier Asset Management Europe Ltd purchased a new position in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 116,273 shares of the basic materials company’s stock, valued at approximately $11,844,000.
Several other institutional investors and hedge funds have also recently modified their holdings of CCJ. Temasek Holdings Private Ltd acquired a new stake in Cameco during the first quarter worth $70,851,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Cameco by 35.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after purchasing an additional 139,592 shares in the last quarter. WCM Investment Management LLC bought a new position in Cameco during the 1st quarter valued at about $35,342,000. Amova Asset Management Americas Inc. lifted its holdings 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 valued at $56,788,000 after purchasing an additional 143,113 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Cameco by 102.3% during the 1st 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 last quarter. 70.21% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. Bank of America reduced their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Barclays lowered their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada lifted their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.
Cameco Stock Down 5.9%
Shares of CCJ stock opened at $100.07 on Friday. The firm has a fifty day moving average of $96.00 and a 200-day moving average of $107.07. Cameco Corporation has a 12-month low of $73.20 and a 12-month high of $135.24. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of 169.61, a P/E/G ratio of 1.82 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.
Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.
Cameco Company 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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