Baader Bank Aktiengesellschaft Increases Stake in Cameco Corporation (NYSE:CCJ)

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Cameco Corporation by 18.4% during the first quarter, owning 39,087 shares valued at approximately $1.6 million.
• Cameco reported $0.11 earnings per share, missing estimates by $0.07, with quarterly revenue rising 24.4% year-over-year but falling short of expectations.
• Analysts give Cameco a consensus rating of "Buy" and a price target of $80.65, indicating positive sentiments despite the recent earnings miss.

Baader Bank Aktiengesellschaft lifted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 18.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 39,087 shares of the basic materials company's stock after acquiring an additional 6,087 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Cameco were worth $1,591,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCJ. Pacific Capital Partners Ltd bought a new stake in Cameco during the 1st quarter valued at $801,000. Galilei Investment Office LLP bought a new stake in Cameco during the 1st quarter valued at $64,000. Bayforest Capital Ltd bought a new stake in Cameco during the 1st quarter valued at $57,000. XTX Topco Ltd raised its holdings in Cameco by 82.4% during the 1st quarter. XTX Topco Ltd now owns 32,312 shares of the basic materials company's stock valued at $1,330,000 after buying an additional 14,598 shares during the last quarter. Finally, S&CO Inc. raised its holdings in Cameco by 2.0% during the 1st quarter. S&CO Inc. now owns 576,601 shares of the basic materials company's stock valued at $23,732,000 after buying an additional 11,170 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCJ has been the topic of a number of research analyst reports. Desjardins initiated coverage on shares of Cameco in a research report on Friday, April 4th. They set a "buy" rating on the stock. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Glj Research reissued a "buy" rating and set a $75.27 price objective on shares of Cameco in a research report on Thursday, June 12th. Scotiabank reissued an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Stock Down 1.2%

Shares of NYSE:CCJ traded down $0.98 during midday trading on Wednesday, reaching $77.71. The company's stock had a trading volume of 4,371,836 shares, compared to its average volume of 4,541,292. The firm has a 50 day moving average of $69.67 and a 200-day moving average of $54.00. The firm has a market capitalization of $33.83 billion, a P/E ratio of 194.28 and a beta of 1.03. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $80.32.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same period last year, the company posted $0.13 earnings per share. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Profile

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.