Hsbc Holdings PLC Acquires New Holdings in Cameco Corporation $CCJ

Hsbc Holdings PLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 23,837 shares of the basic materials company’s stock, valued at approximately $2,427,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCJ. Norges Bank bought a new stake in shares of Cameco during the fourth quarter valued at approximately $443,265,000. Canada Pension Plan Investment Board acquired a new stake in Cameco in the 2nd quarter valued at approximately $420,346,000. BlackRock Inc. acquired a new stake in Cameco in the 2nd quarter valued at approximately $381,091,000. Cibc World Market Inc. acquired a new stake in Cameco in the 2nd quarter valued at approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cameco during the 2nd quarter valued at $301,990,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCJ. Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Wall Street Zen cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Barclays reduced their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

CCJ opened at $100.07 on Monday. The company has a market capitalization of $43.58 billion, a price-to-earnings ratio of 169.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a 1-year low of $73.20 and a 1-year high of $135.24. The business has a 50 day moving average price of $96.00 and a two-hundred day moving average price of $106.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.27 EPS 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.