364,392 Shares in Cameco Corporation $CCJ Bought by Main Street Research LLC

Key Points

• Main Street Research LLC opened a new stake of 364,392 shares in Cameco (NYSE:CCJ) in Q3, valued at about $30.56 million and representing roughly 0.08% of the company.
• Wall Street is broadly bullish—13 analysts rate Cameco a Buy versus 2 Hold, with a consensus target price of $150.40 compared with the stock's recent price near $108.
• Cameco recently beat quarterly expectations, reporting EPS $0.36 vs. $0.29 expected and revenue of $874.6M vs. $782.1M, and analysts forecast about $1.27 EPS for the fiscal year.

Main Street Research LLC acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 364,392 shares of the basic materials company's stock, valued at approximately $30,558,000. Main Street Research LLC owned about 0.08% of Cameco at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Cameco during the 3rd quarter worth about $1,783,000. Chesapeake Capital Corp IL acquired a new stake in shares of Cameco in the 3rd quarter valued at approximately $479,000. FORA Capital LLC boosted its stake in Cameco by 92.1% during the 3rd quarter. FORA Capital LLC now owns 6,404 shares of the basic materials company's stock worth $537,000 after acquiring an additional 3,071 shares during the last quarter. Glenmede Investment Management LP bought a new position in Cameco during the 3rd quarter worth approximately $245,000. Finally, Boston Partners acquired a new position in Cameco during the third quarter valued at approximately $220,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Weiss Ratings raised shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Glj Research reissued a "buy" rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Cameco presently has an average rating of "Moderate Buy" and a consensus target price of $150.40.

Cameco Price Performance

NYSE CCJ opened at $107.92 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a market cap of $47.00 billion, a price-to-earnings ratio of 111.26 and a beta of 0.98. The business has a 50 day simple moving average of $116.55 and a 200 day simple moving average of $97.63. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business's revenue was up 1.5% on a year-over-year basis. Analysts anticipate that Cameco Corporation will post 1.27 earnings per share 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.

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