Allianz Asset Management GmbH Has $5.68 Million Stock Holdings in Cameco Corporation (NYSE:CCJ)

Key Points

• Allianz Asset Management GmbH reduced its stake in Cameco Corporation by 52%, holding 137,867 shares post-sale, valued at approximately $5.68 million.
• During the last quarter, several other hedge funds have also adjusted their positions in Cameco, indicating increased interest among institutional investors.
• Cameco reported earnings per share of $0.11, missing analysts' expectations, with quarterly revenue of $549.58 million, up 24.4% year-over-year.

Allianz Asset Management GmbH decreased its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 52.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,867 shares of the basic materials company's stock after selling 149,531 shares during the period. Allianz Asset Management GmbH's holdings in Cameco were worth $5,675,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock worth $1,163,942,000 after buying an additional 1,811,876 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Cameco by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock valued at $865,729,000 after purchasing an additional 190,337 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Cameco by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 16,784,270 shares of the basic materials company's stock valued at $862,997,000 after purchasing an additional 270,102 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Cameco by 13.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after purchasing an additional 1,196,336 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cameco in the fourth quarter valued at approximately $188,595,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Down 0.6%

CCJ traded down $0.48 during trading on Monday, hitting $79.12. The company had a trading volume of 3,533,192 shares, compared to its average volume of 4,692,879. The company has a market capitalization of $34.45 billion, a PE ratio of 197.80 and a beta of 1.03. Cameco Corporation has a one year low of $35.00 and a one year high of $80.06. The firm's 50-day moving average price is $68.07 and its 200 day moving average price is $53.46. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. The company's revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of research reports. Wall Street Zen raised shares of Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their price objective on shares of Cameco from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. The Goldman Sachs Group raised their price objective on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $80.65.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.