Connective Portfolio Management LLC Takes Position in Cameco Corporation $CCJ

Connective Portfolio Management LLC purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,300 shares of the basic materials company’s stock, valued at approximately $1,008,000. Cameco accounts for about 2.7% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of Cameco by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after acquiring an additional 108,841 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in shares of Cameco during the fourth quarter worth about $1,974,000. Intech Investment Management LLC grew its holdings in shares of Cameco by 3.8% during the third quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after purchasing an additional 18,261 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 worth $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 85,762 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ opened at $106.57 on Friday. The stock has a 50-day moving average price of $112.56 and a 200-day moving average price of $109.76. Cameco Corporation has a 12-month low of $67.60 and a 12-month high of $135.24. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $46.42 billion, a P/E ratio of 98.68, a PEG ratio of 1.94 and a beta of 0.99.

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, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. Equities analysts predict that Cameco Corporation will post 1.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCJ. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating on the stock. Scotiabank reissued an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average target price of $147.42.

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.