Cameco Corporation $CCJ Stock Position Lifted by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management increased its Cameco stake by 74.6% in the second quarter, adding 117,592 shares and bringing its holdings to 275,141 shares valued at approximately $28 million. Institutional investors collectively own 70.21% of the company.
• Cameco reported quarterly EPS of $0.13, missing the $0.26 consensus estimate, while revenue of $573.06 million fell 6.8% year over year and slightly missed expectations.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $145.68, despite some downgrades and target-price cuts.

Royal London Asset Management Ltd. raised its stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 74.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,141 shares of the basic materials company's stock after buying an additional 117,592 shares during the quarter. Royal London Asset Management Ltd. owned 0.06% of Cameco worth $28,026,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors grew its holdings in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock valued at $1,240,047,000 after acquiring an additional 41,430 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Cameco during the second quarter worth $735,498,000. Van ECK Associates Corp raised its holdings in shares of Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Morgan Stanley boosted its position in Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock valued at $455,468,000 after purchasing an additional 323,693 shares during the last quarter. Finally, Norges Bank acquired a new stake in Cameco during the fourth quarter valued at $443,265,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Price Performance

NYSE CCJ opened at $100.07 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $96.00 and a 200 day simple moving average of $107.07. The company has a market cap of $43.58 billion, a P/E ratio of 169.61, a P/E/G ratio of 1.71 and a beta of 1.05. Cameco Corporation has a 1 year low of $73.20 and a 1 year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). The firm had revenue of $573.06 million during 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. On average, sell-side analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating and issued a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated an "outperform" rating and set a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Truist Financial boosted their price target on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Barclays cut their price objective on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Tuesday, August 4th. Thirteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.68.

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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