CIBC Asset Management Inc Increases Position in Cameco Corporation $CCJ

CIBC Asset Management Inc increased its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,118,426 shares of the basic materials company’s stock after purchasing an additional 21,806 shares during the quarter. CIBC Asset Management Inc owned 0.72% of Cameco worth $287,514,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CCJ. Clearstead Advisors LLC increased its stake in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC increased its stake in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares in the last quarter. S.A. Mason LLC increased its stake in Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 111 shares in the last quarter. GAMMA Investing LLC increased its stake in Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Cameco by 3.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research note on Monday, March 9th. Royal Bank Of Canada raised their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price for the company. The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Finally, Weiss Ratings downgraded shares of Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Cameco Stock Performance

Cameco stock opened at $120.56 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock has a fifty day moving average of $113.12 and a two-hundred day moving average of $107.90. The company has a market capitalization of $52.51 billion, a price-to-earnings ratio of 111.63, a PEG ratio of 1.90 and a beta of 0.99. Cameco Corporation has a fifty-two week low of $58.91 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’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. On average, analysts anticipate that Cameco Corporation will post 1.32 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.