Capital Research Global Investors Grows Stock Holdings in Cameco Corporation $CCJ

Capital Research Global Investors raised its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,699 shares of the basic materials company’s stock after acquiring an additional 90,948 shares during the quarter. Capital Research Global Investors owned approximately 0.12% of Cameco worth $48,503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after buying an additional 258,193 shares during the period. Capital World Investors increased its position in shares of Cameco by 0.8% during the third quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after buying an additional 106,872 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after buying an additional 85,762 shares during the period. Van ECK Associates Corp increased its position 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 buying an additional 1,644,061 shares during the period. Finally, Norges Bank purchased a new position in shares of Cameco during the fourth quarter valued at about $443,265,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 3.2%

NYSE:CCJ opened at $102.10 on Wednesday. Cameco Corporation has a one year low of $62.59 and a one year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The company’s 50-day simple moving average is $113.68 and its 200 day simple moving average is $108.92. The firm has a market capitalization of $44.47 billion, a P/E ratio of 94.54, a PEG ratio of 1.79 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted 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. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts forecast that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCJ shares. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Barclays started coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Canadian Imperial Bank of Commerce boosted their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, William Blair started coverage on shares of Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.62.

Cameco 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.