227,234 Shares in Cameco Corporation $CCJ Bought by Formuepleje A S

Key Points

• Formuepleje A S purchased 227,234 Cameco shares worth approximately $19.7 million, making the uranium producer 1.7% of its portfolio and its 19th-largest holding.
• Institutional ownership of Cameco stands at 70.21%, with several major investors—including Bank of America, BlackRock and Canada Pension Plan Investment Board—building new positions recently.
• Cameco’s latest quarterly results fell short of expectations, while its shares traded at $82.77. Analysts maintain a “Moderate Buy” consensus with an average price target of $148.68, despite some recent downgrades.

Formuepleje A S bought a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 227,234 shares of the basic materials company's stock, valued at approximately $19,694,000. Cameco accounts for 1.7% of Formuepleje A S's portfolio, making the stock its 19th largest position. Formuepleje A S owned about 0.05% of Cameco at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE bought a new stake in shares of Cameco during the 2nd quarter valued at $735,498,000. Canada Pension Plan Investment Board bought a new position in shares of Cameco during the second quarter valued at $420,346,000. BlackRock Inc. bought a new stake in shares of Cameco in the second quarter worth approximately $381,091,000. Cibc World Market Inc. purchased a new stake in Cameco in the second quarter worth approximately $354,022,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cameco in the 2nd quarter worth $301,990,000. Institutional investors own 70.21% of the company's stock.

Cameco Price Performance

Cameco stock traded up $1.30 during mid-day trading on Thursday, reaching $82.77. 2,968,166 shares of the company's stock traded hands, compared to its average volume of 3,521,011. Cameco Corporation has a 12-month low of $77.70 and a 12-month high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $94.64 and a two-hundred day moving average of $101.77. The company has a market cap of $36.05 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 1.76 and a beta of 1.17.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Barclays cut their target price on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. Zacks Research cut shares of Cameco from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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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