APG Asset Management N.V. bought a new stake in Cameco Corp (NYSE:CCJ) (TSE:CCO) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 209,839 shares of the basic materials company’s stock, valued at approximately $1,582,000.
Other large investors have also recently made changes to their positions in the company. Credit Suisse AG increased its position in shares of Cameco by 106.7% during the 4th quarter. Credit Suisse AG now owns 943,221 shares of the basic materials company’s stock valued at $8,395,000 after purchasing an additional 486,905 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Cameco by 1.2% during the first quarter. PNC Financial Services Group Inc. now owns 162,902 shares of the basic materials company’s stock valued at $1,244,000 after buying an additional 1,965 shares during the period. JPMorgan Chase & Co. increased its holdings in Cameco by 0.7% during the first quarter. JPMorgan Chase & Co. now owns 1,141,795 shares of the basic materials company’s stock valued at $8,723,000 after buying an additional 8,360 shares during the last quarter. Swiss National Bank boosted its stake in shares of Cameco by 11.7% during the 1st quarter. Swiss National Bank now owns 1,552,200 shares of the basic materials company’s stock worth $11,625,000 after acquiring an additional 162,200 shares during the last quarter. Finally, Atria Investments LLC purchased a new stake in shares of Cameco in the 4th quarter worth $111,000. 58.88% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Royal Bank of Canada upped their price target on Cameco from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Scotiabank raised shares of Cameco to a “buy” rating and set a $13.00 target price for the company in a report on Friday, March 20th. ValuEngine cut shares of Cameco from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. TD Securities upgraded shares of Cameco from a “hold” rating to a “buy” rating in a research report on Monday, May 4th. Finally, Zacks Investment Research upgraded shares of Cameco from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cameco has a consensus rating of “Buy” and an average price target of $13.92.
Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, May 1st. The basic materials company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.07. The firm had revenue of $346.00 million during the quarter, compared to analyst estimates of $283.00 million. Cameco had a net margin of 3.86% and a return on equity of 2.10%. Cameco’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Sell-side analysts anticipate that Cameco Corp will post -0.04 EPS for the current fiscal year.
Cameco Company Profile
Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.
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