129,168 Shares of Cameco Corporation $CCJ Bought by Congress Asset Management Co.

Key Points

• Congress Asset Management acquired 129,168 Cameco shares worth approximately $11.2 million in the third quarter, while institutional investors collectively own 70.21% of the company.
• Cameco’s stock recently traded at $93.06, with a market capitalization of $40.53 billion. The company’s latest quarterly earnings of $0.13 per share fell short of the $0.26 analyst consensus, while revenue declined 6.8% year over year.
• Analysts remain broadly positive, with 12 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $148.68.

Congress Asset Management Co. acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 129,168 shares of the basic materials company's stock, valued at approximately $11,195,000.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Cameco in the second quarter valued at $212,908,000. Amundi raised its stake in shares of Cameco by 13.7% during the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock valued at $304,773,000 after buying an additional 359,375 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Cameco in the 1st quarter valued at about $70,851,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock valued at $58,187,000 after buying an additional 139,592 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Cameco in the second quarter worth about $735,498,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 6.4%

Shares of CCJ opened at $93.06 on Wednesday. The firm has a market cap of $40.53 billion, a P/E ratio of 157.74, a PEG ratio of 1.78 and a beta of 1.17. Cameco Corporation has a 12 month low of $77.70 and a 12 month high of $135.24. The stock's 50 day moving average is $94.99 and its two-hundred day moving average is $102.60. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. Analysts predict that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group started coverage on Cameco in a report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target for the company. Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Sanford C. Bernstein reissued an "outperform" rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Finally, Truist Financial raised their price target on shares of Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $148.68.

Cameco Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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