PKO Investment Management Joint Stock Co Grows Holdings in Cameco Corporation $CCJ

PKO Investment Management Joint Stock Co increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 39.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,300 shares of the basic materials company’s stock after buying an additional 4,900 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Cameco were worth $1,877,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. Capital World Investors grew its stake in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 in the last quarter. Van ECK Associates Corp increased its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock valued at $575,771,000 after buying an additional 849,188 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after buying an additional 323,693 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CCJ. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce boosted their price target on Cameco to $202.00 in a report on Monday, March 9th. William Blair started coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.42.

Cameco Price Performance

CCJ opened at $107.08 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $112.40 and its 200 day moving average price is $110.05. Cameco Corporation has a fifty-two week low of $67.60 and a fifty-two week high of $135.24. The firm has a market cap of $46.64 billion, a price-to-earnings ratio of 99.15, a price-to-earnings-growth ratio of 1.94 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.Cameco’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, sell-side analysts expect that Cameco Corporation will post 1.21 earnings per share for the current year.

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.