Ariose Capital Management Ltd Invests $3.74 Million in Cameco Corporation $CCJ

Ariose Capital Management Ltd acquired a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 34,460 shares of the basic materials company’s stock, valued at approximately $3,743,000. Cameco makes up 2.5% of Ariose Capital Management Ltd’s portfolio, making the stock its 9th largest holding.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new position in Cameco during the fourth quarter worth about $443,265,000. Marshall Wace LLP raised its position in Cameco by 7,481.3% in the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after acquiring an additional 1,644,061 shares during the last quarter. Mizuho Markets Cayman LP acquired a new stake in Cameco in the 3rd quarter valued at about $128,370,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Cameco by 14,338.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

CCJ stock opened at $96.36 on Friday. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The firm has a 50-day moving average of $109.26 and a two-hundred day moving average of $110.53. The firm has a market capitalization of $41.97 billion, a PE ratio of 89.22, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share 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 the consensus estimate of $598.63 million. During the same period last year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts forecast that Cameco Corporation will post 1.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CCJ shares. Royal Bank Of Canada lifted their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Barclays began coverage on Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average target price of $148.92.

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.