Cameco Corporation $CCJ Shares Acquired by Amundi

Key Points

• Amundi increased its Cameco stake by 13.7% in the second quarter, purchasing 359,375 additional shares for a total of 2.99 million shares valued at approximately $304.8 million. Institutional investors collectively own 70.21% of the company.
• Cameco’s latest quarterly results fell short of expectations: earnings per share were $0.13 versus the $0.26 consensus estimate, while revenue declined 6.8% year over year to $573.1 million.
• Analyst sentiment remains positive, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $145.09, despite some analysts recently lowering their targets.

Amundi raised its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 13.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,992,074 shares of the basic materials company's stock after purchasing an additional 359,375 shares during the period. Amundi owned 0.69% of Cameco worth $304,773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Clearstead Advisors LLC increased its stake in shares of Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock worth $929,000 after purchasing an additional 85 shares during the last quarter. HB Wealth Management LLC lifted its stake in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock valued at $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment grew its holdings in Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock worth $176,000 after purchasing an additional 108 shares during the period. Kingsview Wealth Management LLC grew its holdings in Cameco by 3.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company's stock worth $314,000 after purchasing an additional 114 shares during the period. Finally, Midwest Trust Co increased its position in Cameco by 4.8% during the fourth quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company's stock worth $231,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

CCJ stock opened at $100.81 on Tuesday. The company's 50-day moving average price is $95.20 and its two-hundred day moving average price is $106.28. The firm has a market cap of $43.91 billion, a P/E ratio of 170.86, a P/E/G ratio of 1.72 and a beta of 1.06. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $74.63 and a 12 month high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business's revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the topic of several research analyst reports. Truist Financial upped their price objective on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Jefferies Financial Group started coverage on Cameco in a research note on Thursday. They set a "buy" rating and a $138.00 target price for the company. Bank of America decreased their target price on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Citigroup reaffirmed a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Barclays reduced their price objective 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. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $145.09.

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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