Cameco Corporation $CCJ Holdings Lifted by Swiss National Bank

Key Points

• Swiss National Bank increased its Cameco stake by 27% in the first quarter, buying 311,700 additional shares and bringing its holding to 1,465,700 shares worth about $159.2 million.
• Cameco reported better-than-expected quarterly results, posting EPS of $0.34 versus $0.29 expected and revenue of $607.5 million, with revenue up 7.1% year over year.
• Wall Street remains broadly positive on the uranium producer, with a consensus rating of “Moderate Buy” and an average price target of $146.18, despite some recent target cuts from analysts.

Swiss National Bank boosted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 27.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,465,700 shares of the basic materials company's stock after buying an additional 311,700 shares during the period. Swiss National Bank owned approximately 0.34% of Cameco worth $159,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Mediolanum International Funds Ltd grew its stake in Cameco by 40.7% during the 1st quarter. Mediolanum International Funds Ltd now owns 33,603 shares of the basic materials company's stock valued at $3,456,000 after acquiring an additional 9,718 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Cameco by 6.0% in the 1st quarter. Jennison Associates LLC now owns 476,345 shares of the basic materials company's stock valued at $51,736,000 after purchasing an additional 26,768 shares during the period. McAlvany Wealth Management LLC lifted its position in shares of Cameco by 2.4% in the first quarter. McAlvany Wealth Management LLC now owns 9,082 shares of the basic materials company's stock worth $934,000 after purchasing an additional 211 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Cameco by 19.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,320 shares of the basic materials company's stock worth $252,000 after purchasing an additional 381 shares in the last quarter. Finally, Ranch Capital Advisors Inc. boosted its holdings in shares of Cameco by 3.4% during the first quarter. Ranch Capital Advisors Inc. now owns 6,759 shares of the basic materials company's stock worth $734,000 after purchasing an additional 224 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Trading Down 0.0%

Shares of NYSE CCJ opened at $85.61 on Monday. The business has a 50 day simple moving average of $103.83 and a 200 day simple moving average of $110.80. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The stock has a market cap of $37.28 billion, a price-to-earnings ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

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, 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 company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. On average, research analysts predict that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CCJ. Barclays lowered their price objective 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. Royal Bank Of Canada lifted their target price on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Finally, Bank of America cut their price objective on Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, July 9th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.18.

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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