EFG International AG Purchases New Position in Cameco Corporation $CCJ

Key Points

• EFG International AG purchased 106,663 Cameco shares during the second quarter, valued at approximately $10.85 million. Institutional investors collectively own 70.21% of Cameco’s outstanding stock.
• Analysts maintain a generally favorable outlook, with 14 Buy ratings and five Hold ratings, producing a “Moderate Buy” consensus and an average price target of $145.68.
• Cameco shares opened at $107.03 after rising 4.7%, but the company’s latest quarterly results fell short of expectations: EPS was $0.13 versus the $0.26 consensus, while revenue declined 6.8% year over year to $573.06 million.

EFG International AG purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 106,663 shares of the basic materials company's stock, valued at approximately $10,845,000.

Several other large investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC increased its holdings in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after acquiring an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after acquiring an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after acquiring an additional 64,512 shares during the last quarter. Finally, NewGen Equity Long Short Fund acquired a new stake in Cameco during the 2nd quarter valued at $14,252,000. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research analyst reports. Citigroup reiterated a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Truist Financial raised their target price on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Barclays decreased their price objective on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.68.

Cameco Stock Up 4.7%

Shares of CCJ opened at $107.03 on Wednesday. The firm has a market capitalization of $46.61 billion, a price-to-earnings ratio of 181.40, a PEG ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The business's fifty day moving average price is $96.10 and its two-hundred day moving average price is $107.18. Cameco Corporation has a 52 week low of $73.20 and a 52 week high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released 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 analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm's quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. On average, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source