Mirae Asset Global Investments Co. Ltd. Buys 5,360 Shares of Cameco Corporation $CCJ

Mirae Asset Global Investments Co. Ltd. raised its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,352 shares of the basic materials company’s stock after purchasing an additional 5,360 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cameco were worth $23,362,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CCJ. TD Asset Management Inc boosted its holdings in Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after purchasing an additional 2,489,207 shares during the period. Van ECK Associates Corp boosted 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 purchasing an additional 1,644,061 shares during the period. Mizuho Markets Cayman LP bought a new stake in Cameco in the 3rd quarter valued at $128,370,000. Victory Capital Management Inc. boosted its holdings in Cameco by 75.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,489,424 shares of the basic materials company’s stock valued at $208,490,000 after purchasing an additional 1,073,111 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Cameco by 32.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,291,202 shares of the basic materials company’s stock valued at $360,063,000 after purchasing an additional 1,060,842 shares during the period. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Finally, Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Price Performance

NYSE:CCJ opened at $120.53 on Friday. The company has a 50-day moving average of $114.15 and a 200-day moving average of $103.09. The company has a market capitalization of $52.49 billion, a price-to-earnings ratio of 124.25 and a beta of 1.02. Cameco Corporation has a 52 week low of $38.97 and a 52 week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. As a group, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

About Cameco

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.