26,119 Shares of Cameco Corporation $CCJ Purchased by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments purchased 26,119 Cameco shares worth approximately $2.27 million during the third quarter. Institutional investors collectively own 70.21% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy, four Hold and one Sell rating, resulting in a consensus “Moderate Buy” rating and a $148.68 target price.
• Cameco shares rose 0.1% to $86.20, while the company’s latest quarterly results missed expectations: adjusted earnings were $0.13 per share versus a $0.26 consensus estimate, and revenue fell 6.8% year over year.

Montrusco Bolton Investments Inc. purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,119 shares of the basic materials company's stock, valued at approximately $2,270,000.

A number of other institutional investors also recently modified their holdings of CCJ. Wellington Management Group LLP bought a new position in shares of Cameco during the 2nd quarter worth approximately $212,908,000. Amundi lifted its position in shares of Cameco by 13.7% in the second quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock worth $304,773,000 after purchasing an additional 359,375 shares in the last quarter. Temasek Holdings Private Ltd bought a new stake in shares of Cameco in the first quarter worth $70,851,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock worth $58,187,000 after purchasing an additional 139,592 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Cameco in the second quarter worth $735,498,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Weiss Ratings upgraded shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Truist Financial boosted their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Jefferies Financial Group started coverage on shares of Cameco in a research note on Thursday, September 3rd. They set a "buy" rating and a $138.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.68.

Cameco Stock Up 0.1%

Shares of Cameco stock traded up $0.08 on Tuesday, reaching $86.20. 2,424,623 shares of the company were exchanged, compared to its average volume of 3,513,606. Cameco Corporation has a one year low of $77.70 and a one year high of $135.24. The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of 146.11, a PEG ratio of 1.79 and a beta of 1.17. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $95.03 and a 200 day moving average of $102.10.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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 firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts forecast that Cameco Corporation will post 1.07 earnings per share for the current year.

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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