Cameco Corporation (NYSE:CCJ) Shares Purchased by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. increased its holdings in Cameco Corporation by 19.0% in Q1, acquiring 89,164 shares for a total of 557,738 shares valued at approximately $22.96 million.
• Cameco's stock missed earnings expectations for the latest quarter, reporting only $0.11 EPS compared to the consensus estimate of $0.18, along with revenue falling short at $549.58 million.
• Several analysts have maintained a "buy" rating on Cameco shares, with a consensus price target of $80.65, reflecting strong institutional interest in the stock.

Nikko Asset Management Americas Inc. raised its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 19.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 557,738 shares of the basic materials company's stock after purchasing an additional 89,164 shares during the period. Nikko Asset Management Americas Inc. owned 0.13% of Cameco worth $22,956,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Capital Wealth Advisors acquired a new position in Cameco during the 4th quarter valued at about $839,000. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Cameco by 41.6% in the first 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 in the last quarter. Nicholson Meyer Capital Management Inc. bought a new position in shares of Cameco in the first quarter valued at approximately $350,000. Balefire LLC boosted its holdings in shares of Cameco by 42.9% in the first 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 in the last quarter. Finally, Galibier Capital Management Ltd. bought a new position in shares of Cameco in the first quarter valued at approximately $11,655,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Down 0.4%

CCJ stock opened at $79.60 on Friday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $80.06. The firm has a market cap of $34.66 billion, a PE ratio of 199.00 and a beta of 1.03. The firm has a 50 day simple moving average of $68.07 and a 200 day simple moving average of $53.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results 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). The business had revenue of $549.58 million for 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%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. Equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCJ. UBS Group reiterated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Glj Research reiterated a "buy" rating and issued a $75.27 price objective on shares of Cameco in a report on Thursday, June 12th. Scotiabank reiterated an "outperform" rating on shares of Cameco in a report on Tuesday, July 8th. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Desjardins began coverage on shares of Cameco in a report on Friday, April 4th. They issued a "buy" rating for the company. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cameco presently has an average rating of "Buy" and a consensus price target of $80.65.

Cameco Company 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.

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