Andra AP fonden Acquires 32,107 Shares of Cameco Corporation $CCJ

Andra AP fonden increased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 186.9% during the first quarter, HoldingsChannel reports. The fund owned 49,287 shares of the basic materials company’s stock after acquiring an additional 32,107 shares during the quarter. Andra AP fonden’s holdings in Cameco were worth $5,353,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Madison Asset Management LLC boosted its stake in Cameco by 5.8% during the 1st quarter. Madison Asset Management LLC now owns 42,175 shares of the basic materials company’s stock valued at $4,581,000 after purchasing an additional 2,324 shares during the last quarter. Titan Global Capital Management USA LLC grew its stake in shares of Cameco by 3.5% in the 1st quarter. Titan Global Capital Management USA LLC now owns 37,258 shares of the basic materials company’s stock worth $4,047,000 after acquiring an additional 1,247 shares in the last quarter. Amova Asset Management Americas Inc. grew its stake in shares of Cameco by 37.7% in 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 acquiring an additional 143,113 shares in the last quarter. AlTi Global Inc. raised its holdings in shares of Cameco by 17.8% in the first quarter. AlTi Global Inc. now owns 158,650 shares of the basic materials company’s stock valued at $18,261,000 after purchasing an additional 24,020 shares during the last quarter. Finally, Earned Wealth Advisors LLC purchased a new stake in shares of Cameco in the first quarter valued at about $209,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America cut their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Truist Financial assumed coverage on shares of Cameco in a research note on Monday, July 13th. They issued a “buy” rating and a $129.00 price objective for the company. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Barclays cut their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $146.18.

Cameco Price Performance

CCJ opened at $90.40 on Thursday. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The firm has a 50-day moving average of $102.06 and a 200 day moving average of $110.73. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The firm has a market cap of $39.37 billion, a P/E ratio of 83.70, a PEG ratio of 1.46 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, research analysts expect that Cameco Corporation will post 1.29 EPS for the current 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.