Bank of America Corp DE purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,220,673 shares of the basic materials company's stock, valued at approximately $735,498,000. Bank of America Corp DE owned 1.66% of Cameco at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Capital World Investors raised its holdings in shares of Cameco by 0.3% in the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after buying an additional 41,430 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock valued at $575,771,000 after acquiring an additional 849,188 shares during the period. Norges Bank bought a new position in shares of Cameco during the fourth quarter valued at $443,265,000. Canada Pension Plan Investment Board acquired a new stake in shares of Cameco in the 2nd quarter valued at $420,346,000. Finally, Geode Capital Management LLC boosted its stake in shares of Cameco by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 4,164,700 shares of the basic materials company's stock valued at $385,945,000 after purchasing an additional 289,004 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.
Cameco Price Performance
Shares of CCJ stock opened at $91.17 on Wednesday. Cameco Corporation has a 52-week low of $77.70 and a 52-week high of $135.24. The stock has a market cap of $39.71 billion, a PE ratio of 154.53, a PEG ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The firm's 50 day moving average price is $95.14 and its two-hundred day moving average price is $105.33.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The business had revenue of $573.06 million for 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%. The business's revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Barclays dropped their target price on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 4th. Citigroup restated a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Bank of America cut their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a research report on Saturday, September 5th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.68.
Check Out Our Latest Research Report on Cameco
Cameco Profile
(
Free Report)
Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.
The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.
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