Amundi Grows Stake in Cameco Corporation $CCJ

Key Points

• Amundi increased its Cameco stake by 12.1% in the first quarter, adding 283,629 shares to own 2.63 million shares valued at approximately $285.9 million. Institutional investors collectively own 70.21% of the company.
• Analyst sentiment remains favorable, with Cameco carrying a “Moderate Buy” consensus rating and an average price target of $146.18, despite some firms recently lowering their targets.
• Cameco exceeded quarterly expectations, reporting $0.34 in EPS versus $0.29 expected and $607.5 million in revenue, up 7.1% year over year. Shares opened at $88.19, while the stock’s 12-month range is $68.96 to $135.24.

Amundi grew its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,632,699 shares of the basic materials company's stock after purchasing an additional 283,629 shares during the quarter. Amundi owned approximately 0.60% of Cameco worth $285,937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCJ. Norges Bank purchased a new position in shares of Cameco during the fourth quarter worth about $443,265,000. Marshall Wace LLP raised its position in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company's stock valued at $101,744,000 after acquiring an additional 1,104,378 shares during the period. Man Group plc raised its stake in Cameco by 126.3% during the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company's stock valued at $142,455,000 after acquiring an additional 948,068 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company's stock valued at $88,247,000 after acquiring an additional 897,558 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CCJ. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating for the company. Royal Bank Of Canada boosted their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Bank of America dropped their price objective on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, Barclays reduced their target price on Cameco from $108.00 to $104.00 and set an "equal weight" rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cameco has an average rating of "Moderate Buy" and an average price target of $146.18.

Cameco Stock Up 4.3%

Shares of NYSE CCJ opened at $88.19 on Friday. The firm's 50-day moving average is $99.82 and its two-hundred day moving average is $110.08. The company has a market capitalization of $38.41 billion, a PE ratio of 81.66, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analysts' expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company's revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. Equities analysts anticipate that Cameco Corporation will post 1.34 EPS for the current fiscal year.

Cameco Company Profile

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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