Cameco Corporation $CCJ Shares Newly Acquired by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 17,054 Cameco shares worth approximately $1.48 million in the third quarter. Institutional investors and hedge funds collectively own 70.21% of CCJ.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $148.68, despite some firms downgrading the stock to Sell or Strong Sell.
• Cameco shares opened at $81.46, down 2.1%, while the company’s latest quarter showed weaker performance: adjusted earnings of $0.13 per share missed estimates and revenue fell 6.8% year over year.

Banque Pictet & Cie SA purchased a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 17,054 shares of the basic materials company's stock, valued at approximately $1,482,000.

A number of other institutional investors also recently made changes to their positions in CCJ. Shelton Wealth Management LLC boosted its stake in Cameco by 12.0% during the 3rd quarter. Shelton Wealth Management LLC now owns 23,391 shares of the basic materials company's stock valued at $2,027,000 after purchasing an additional 2,515 shares in the last quarter. Walser Wealth Management Company A Ltd Liability Co increased its position in shares of Cameco by 2.3% during the 3rd quarter. Walser Wealth Management Company A Ltd Liability Co now owns 62,291 shares of the basic materials company's stock valued at $5,399,000 after purchasing an additional 1,428 shares during the period. Formuepleje A S acquired a new position in shares of Cameco during the 3rd quarter valued at $19,694,000. Strategy Asset Managers LLC raised its stake in shares of Cameco by 1.4% in the 3rd quarter. Strategy Asset Managers LLC now owns 15,608 shares of the basic materials company's stock worth $1,353,000 after buying an additional 223 shares in the last quarter. Finally, Azarias Capital Management L.P. raised its stake in shares of Cameco by 11.3% in the 3rd quarter. Azarias Capital Management L.P. now owns 56,083 shares of the basic materials company's stock worth $4,861,000 after buying an additional 5,712 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCJ has been the subject of several research analyst reports. Zacks Research lowered Cameco from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Bank of America lowered 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. Truist Financial lifted their target price on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Wall Street Zen cut shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings raised shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $148.68.

Cameco Stock Down 2.1%

CCJ stock opened at $81.46 on Friday. Cameco Corporation has a 12 month low of $77.70 and a 12 month high of $135.24. The firm has a market cap of $35.48 billion, a PE ratio of 138.06, a P/E/G ratio of 1.66 and a beta of 1.17. The firm has a 50 day simple moving average of $94.11 and a 200 day simple moving average of $101.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its 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 business 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 company's quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities research analysts forecast that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.

About Cameco

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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