Cameco Corporation $CCJ Position Raised by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management raised its position in Cameco by 32.8% in Q3 to 4,291,202 shares (an additional 1,060,842 shares), worth about $360.1 million and making CCJ its 16th-largest holding.
• Wall Street sentiment is broadly positive with 13 Buy and 2 Hold ratings, a consensus of Moderate Buy and an average price target of $150.40.
• Cameco recently beat estimates with quarterly EPS of $0.36 (vs. $0.29) and revenue of $874.6 million; the stock trades near $115 with a market cap around $50.3 billion.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 32.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,291,202 shares of the basic materials company's stock after purchasing an additional 1,060,842 shares during the period. Cameco accounts for approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 16th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.99% of Cameco worth $360,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barometer Capital Management Inc. grew its stake in shares of Cameco by 28.6% in the third quarter. Barometer Capital Management Inc. now owns 148,700 shares of the basic materials company's stock worth $12,470,000 after purchasing an additional 33,050 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cameco during the 3rd quarter worth about $92,000. Nemes Rush Group LLC bought a new position in shares of Cameco in the third quarter valued at approximately $50,000. Franklin Resources Inc. raised its holdings in Cameco by 10.8% during the third quarter. Franklin Resources Inc. now owns 189,721 shares of the basic materials company's stock worth $15,917,000 after purchasing an additional 18,558 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Cameco in the third quarter worth approximately $6,725,000. 70.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCJ has been the subject of several research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Glj Research restated a "buy" rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Zacks Research downgraded shares of Cameco from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce raised their target price on shares of Cameco to $202.00 in a report on Monday. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cameco presently has a consensus rating of "Moderate Buy" and an average price target of $150.40.

Cameco Stock Down 3.9%

Shares of Cameco stock opened at $115.37 on Thursday. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The company has a market cap of $50.25 billion, a P/E ratio of 118.94 and a beta of 0.98. The stock has a 50-day moving average price of $115.89 and a 200 day moving average price of $97.28. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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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