Covea Finance Has $68.17 Million Position in Cameco Corporation $CCJ

Covea Finance decreased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 9.0% in the fourth quarter, Holdings Channel reports. The firm owned 743,758 shares of the basic materials company’s stock after selling 73,922 shares during the quarter. Cameco accounts for about 2.2% of Covea Finance’s portfolio, making the stock its 7th biggest position. Covea Finance’s holdings in Cameco were worth $68,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Cameco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock worth $1,493,978,000 after buying an additional 235,613 shares in the last quarter. Capital World Investors boosted its holdings in shares of Cameco by 0.8% during the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after acquiring an additional 106,872 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cameco by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock worth $1,089,080,000 after acquiring an additional 85,762 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Cameco by 41.4% during the second 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 purchasing an additional 2,071,373 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $101.80 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a 50-day simple moving average of $116.95 and a two-hundred day simple moving average of $98.70. The firm has a market capitalization of $44.34 billion, a PE ratio of 104.95 and a beta of 0.98. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter last year, the company earned $0.36 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Canadian Imperial Bank of Commerce raised their price target on Cameco to $202.00 in a research note on Monday, March 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Royal Bank Of Canada increased their target price on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.40.

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.