Capital World Investors Grows Stake in Cameco Corporation $CCJ

Key Points

• Capital World Investors increased its stake in Cameco by 0.8% in Q3, buying 106,872 shares to own 13,503,924 shares—about 3.10% of the company valued at roughly $1.133 billion.
• Cameco beat quarterly expectations with $0.36 EPS (vs. $0.29 expected) and revenue of about $874.6 million, while analysts forecast ~1.27 EPS for the current fiscal year.
• The stock has a consensus "Moderate Buy" rating with an average target of $150.40, and several firms raised targets (e.g., CIBC $202, Bernstein $147); roughly 70% of shares are held by institutional investors.

Capital World Investors lifted its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,503,924 shares of the basic materials company's stock after buying an additional 106,872 shares during the quarter. Capital World Investors owned approximately 3.10% of Cameco worth $1,133,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Abbington Investment Group acquired a new position in Cameco in the third quarter valued at approximately $6,506,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cameco by 79.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company's stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. Nwam LLC raised its position in shares of Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company's stock worth $6,304,000 after buying an additional 8,519 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Cameco by 165.1% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company's stock worth $12,593,000 after buying an additional 105,523 shares in the last quarter. Finally, NWF Advisory Services Inc. acquired a new stake in Cameco in the 3rd quarter valued at about $1,996,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Price Performance

Shares of CCJ stock opened at $120.14 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The firm's 50 day moving average is $115.41 and its 200-day moving average is $97.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 123.85 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same period last year, the company earned $0.36 EPS. The business's quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of a number of analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Canadian Imperial Bank of Commerce boosted their target price on Cameco to $202.00 in a research note on Monday. Weiss Ratings upgraded shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, February 23rd. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $150.40.

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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