Andra AP fonden Has $5.35 Million Position in Cameco Corporation $CCJ

Key Points

• Andra AP fonden increased its Cameco stake by 186.9% in the first quarter, buying 32,107 additional shares and bringing its total position to 49,287 shares worth about $5.35 million.
• Institutional ownership remains high, with hedge funds and other institutions holding about 70.21% of Cameco’s shares, and several firms added to or adjusted their positions during the latest reporting period.
• Cameco reported better-than-expected quarterly results, with EPS of $0.34 versus $0.29 expected and revenue of $607.5 million, while analysts currently have a Moderate Buy consensus and an average price target of $146.18.

Andra AP fonden boosted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 186.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,287 shares of the basic materials company's stock after buying an additional 32,107 shares during the quarter. Andra AP fonden's holdings in Cameco were worth $5,353,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Bison Wealth LLC raised its position in Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in shares of Cameco during the second quarter worth about $14,252,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 1.9%

NYSE:CCJ opened at $90.40 on Thursday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 83.70, a PEG ratio of 1.46 and a beta of 1.02. The firm has a fifty day simple moving average of $102.06 and a two-hundred day simple moving average of $110.73. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts expect that Cameco Corporation will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCJ. Royal Bank Of Canada lifted their price objective on 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 lowered their price target on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Barclays dropped their price target on shares of Cameco from $108.00 to $104.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 15th. William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They issued an "outperform" rating on the stock. Finally, TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.18.

Cameco 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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