CloudAlpha Capital Management Limited Hong Kong Takes $1.23 Million Position in Cameco Corporation $CCJ

CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, Holdings Channel reports. The fund bought 14,625 shares of the basic materials company’s stock, valued at approximately $1,226,000.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Cameco by 2.8% during the second quarter. Vanguard Group Inc. now owns 17,565,529 shares of the basic materials company’s stock worth $1,304,504,000 after buying an additional 481,171 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares during the period. Norges Bank acquired a new stake in shares of Cameco during the 2nd quarter valued at approximately $341,736,000. William Blair Investment Management LLC boosted its stake in shares of Cameco by 15.1% during the 2nd quarter. William Blair Investment Management LLC now owns 3,869,291 shares of the basic materials company’s stock worth $287,217,000 after acquiring an additional 506,667 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cameco by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock worth $250,797,000 after acquiring an additional 578,393 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Royal Bank Of Canada lowered their price objective on shares of Cameco from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, November 13th. Scotiabank restated 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 report on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cameco has an average rating of “Buy” and an average price target of $131.39.

Cameco Price Performance

Cameco stock opened at $120.69 on Tuesday. The stock has a market capitalization of $52.56 billion, a P/E ratio of 140.34 and a beta of 0.99. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $135.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.99 and a quick ratio of 1.85. The firm’s 50-day moving average is $104.36 and its two-hundred day moving average is $90.98.

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.