Cameco Corporation $CCJ Shares Acquired by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas increased its Cameco stake by 37.7% in the first quarter, buying 143,113 more shares and bringing its total holding to 522,864 shares worth about $56.8 million.
• Other institutional investors also added to or initiated positions, and overall 70.21% of Cameco’s stock is now owned by institutions and hedge funds.
• Analysts remain mostly bullish on Cameco, with a Moderate Buy consensus and an average price target of $146.18, though the stock recently traded at $84.84 after the company beat quarterly EPS and revenue estimates.

Amova Asset Management Americas Inc. boosted its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 37.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 522,864 shares of the basic materials company's stock after buying an additional 143,113 shares during the quarter. Amova Asset Management Americas Inc. owned 0.12% of Cameco worth $56,788,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CCJ. AlTi Global Inc. grew its stake in shares of Cameco by 17.8% in the 1st quarter. AlTi Global Inc. now owns 158,650 shares of the basic materials company's stock worth $18,261,000 after purchasing an additional 24,020 shares during the last quarter. Earned Wealth Advisors LLC acquired a new stake in Cameco during the first quarter valued at approximately $209,000. Hollencrest Capital Management lifted its stake in Cameco by 2.4% during the first quarter. Hollencrest Capital Management now owns 43,111 shares of the basic materials company's stock valued at $4,682,000 after purchasing an additional 990 shares during the last quarter. Meeder Advisory Services Inc. bought a new stake in Cameco during the first quarter worth approximately $230,000. Finally, WCM Investment Management LLC bought a new stake in Cameco during the first quarter worth approximately $35,342,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on CCJ shares. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Scotiabank reissued an "outperform" rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Citigroup reaffirmed a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Bank of America dropped their price target on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $146.18.

Cameco Stock Performance

Shares of NYSE CCJ opened at $84.84 on Tuesday. The business's 50-day moving average price is $103.12 and its two-hundred day moving average price is $110.75. 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 Corporation has a one year low of $68.96 and a one year high of $135.24. The company has a market capitalization of $36.95 billion, a P/E ratio of 78.55, a price-to-earnings-growth ratio of 1.40 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results 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 company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. Analysts anticipate that Cameco Corporation will post 1.29 earnings per share 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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