First Trust Advisors LP Acquires 14,086 Shares of Cameco Corporation $CCJ

Key Points

• First Trust Advisors increased its Cameco stake by 50% in the first quarter, purchasing 14,086 additional shares for a total of 42,230 shares valued at approximately $4.59 million. Institutional investors collectively own 70.21% of Cameco.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $145.60, although some firms recently lowered their targets.
• Cameco reported weaker-than-expected quarterly results, with EPS of $0.13 versus the $0.26 consensus estimate and revenue down 6.8% year over year to $573.06 million.

First Trust Advisors LP boosted its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 50.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,230 shares of the basic materials company's stock after buying an additional 14,086 shares during the quarter. First Trust Advisors LP's holdings in Cameco were worth $4,590,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Capital World Investors grew its stake in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock valued at $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. Van ECK Associates Corp raised its holdings in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after purchasing an additional 849,188 shares in the last quarter. Morgan Stanley lifted its position in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock valued at $455,468,000 after buying an additional 323,693 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cameco in the 4th quarter valued at about $443,265,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Sanford C. Bernstein reiterated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Barclays cut their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a report on Tuesday. Weiss Ratings downgraded Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Finally, William Blair initiated coverage on Cameco in a research report on Monday, April 20th. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.60.

Cameco Trading Up 3.8%

NYSE:CCJ opened at $93.14 on Wednesday. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24. The firm has a fifty day simple moving average of $98.84 and a 200-day simple moving average of $109.66. The company has a current ratio of 3.06, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $40.56 billion, a P/E ratio of 157.86, a PEG ratio of 1.45 and a beta of 1.05.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period in the previous year, the company earned $0.71 earnings per share. Cameco's revenue was down 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Cameco Corporation will post 1.31 earnings per share for the current year.

Cameco Company 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.

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