Cameco Corporation $CCJ Shares Purchased by CI Investments Inc.

Key Points

• CI Investments Inc. more than doubled its stake in Cameco during the first quarter, increasing holdings by 102.9% to 81,985 shares valued at about $8.9 million.
• Several other institutional investors also added to or initiated positions in Cameco, and the stock is now 70.21% owned by institutions and hedge funds.
• Cameco reported better-than-expected quarterly results, with EPS of $0.34 versus $0.29 expected and revenue of $607.49 million, while analysts maintain a Moderate Buy consensus with an average target price of $146.18.

CI Investments Inc. boosted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 102.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 81,985 shares of the basic materials company's stock after purchasing an additional 41,580 shares during the period. CI Investments Inc.'s holdings in Cameco were worth $8,904,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CCJ. First Trust Advisors LP increased its position in Cameco by 50.0% in the 1st quarter. First Trust Advisors LP now owns 42,230 shares of the basic materials company's stock valued at $4,590,000 after acquiring an additional 14,086 shares during the period. Temasek Holdings Private Ltd acquired a new stake in Cameco during the 1st quarter worth approximately $70,851,000. PNC Financial Services Group Inc. grew its stake in shares of Cameco by 50.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 243,021 shares of the basic materials company's stock valued at $26,394,000 after purchasing an additional 81,327 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in shares of Cameco in the 1st quarter valued at approximately $228,000. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Cameco by 12.6% in the first quarter. Baader Bank Aktiengesellschaft now owns 43,186 shares of the basic materials company's stock valued at $4,655,000 after purchasing an additional 4,831 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Up 1.9%

NYSE:CCJ opened at $90.40 on Thursday. The stock has a fifty day moving average price of $102.06 and a two-hundred day moving average price of $110.73. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 83.70, a PEG ratio of 1.46 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 Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same period in the previous year, the firm earned $0.16 EPS. The business's revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup restated a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Barclays reduced their target price on shares of Cameco from $108.00 to $104.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 15th. Finally, William Blair started coverage on shares of Cameco in a research note on Monday, April 20th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to 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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