Cameco Corporation (NYSE:CCJ) Holdings Increased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has increased its holdings in Cameco Corporation (NYSE:CCJ) by 2.1%, owning 1,401,679 shares valued at approximately $57.7 million.
• Institutional investors collectively own 70.21% of Cameco's stock, indicating strong interest from investment firms.
• Wall Street analysts have issued a consensus rating of "Buy" for Cameco, with a target price of $80.65.

Mackenzie Financial Corp raised its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,401,679 shares of the basic materials company's stock after acquiring an additional 29,183 shares during the quarter. Mackenzie Financial Corp owned 0.32% of Cameco worth $57,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors acquired a new stake in Cameco in the 4th quarter valued at about $839,000. Kayne Anderson Capital Advisors LP lifted its holdings in Cameco by 41.6% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 11,879 shares during the last quarter. Nicholson Meyer Capital Management Inc. acquired a new stake in Cameco in the 1st quarter valued at about $350,000. Balefire LLC lifted its holdings in Cameco by 42.9% in the 1st quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock valued at $1,383,000 after acquiring an additional 10,081 shares during the last quarter. Finally, Galibier Capital Management Ltd. acquired a new stake in Cameco in the 1st quarter valued at about $11,655,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCJ shares. Desjardins began coverage on shares of Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. Glj Research restated a "buy" rating and set a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. UBS Group restated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Scotiabank restated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $80.65.

Cameco Price Performance

Shares of CCJ opened at $79.12 on Tuesday. The company has a market capitalization of $34.45 billion, a price-to-earnings ratio of 197.80 and a beta of 1.03. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $80.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. The business's 50-day moving average is $68.63 and its 200-day moving average is $53.67.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). The business had revenue of $549.58 million during the quarter, compared to analyst estimates of $890.07 million. Cameco had a net margin of 7.50% and a return on equity of 4.47%. Cameco's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.

Want to see what other hedge funds are holding CCJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.