Hsbc Holdings PLC Invests $2.43 Million in Cameco Corporation $CCJ

Hsbc Holdings PLC purchased a new position in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 23,837 shares of the basic materials company’s stock, valued at approximately $2,427,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EFG International AG purchased a new stake in Cameco during the 2nd quarter worth approximately $10,845,000. Dayah Capital LLC purchased a new position in shares of Cameco during the 2nd quarter valued at approximately $2,498,000. Ancora Advisors LLC acquired a new stake in shares of Cameco during the second quarter worth approximately $2,861,000. Primecap Management Co. CA bought a new stake in shares of Cameco in the second quarter worth $94,238,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Cameco in the second quarter worth $420,346,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

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Cameco Stock Performance

Shares of NYSE CCJ opened at $100.07 on Monday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $96.00 and its two-hundred day moving average price is $106.98. Cameco Corporation has a 52-week low of $73.20 and a 52-week high of $135.24. The stock has a market capitalization of $43.58 billion, a P/E ratio of 169.61, a P/E/G ratio of 1.71 and a beta of 1.05.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million for 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 firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

CCJ has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

Check Out Our Latest Analysis on Cameco

About Cameco

(Free Report)

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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