Gulf International Bank UK Ltd Purchases 24,078 Shares of Cameco Corporation (NYSE:CCJ)

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Cameco Corporation by 2,696.3%, now owning 24,971 shares valued at approximately $1,028,000.
• Additionally, various hedge funds, including Vanguard Capital Wealth Advisors and Kayne Anderson Capital Advisors, have made substantial investments in Cameco, with institutional investors holding over 70% of the stock.
• Analysts maintain a strong outlook on Cameco, with twelve analysts giving it a "buy" rating and an average price target of $82.65.

Gulf International Bank UK Ltd grew its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 2,696.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,971 shares of the basic materials company's stock after buying an additional 24,078 shares during the quarter. Gulf International Bank UK Ltd's holdings in Cameco were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Regal Partners Ltd acquired a new position in shares of Cameco in the 1st quarter valued at approximately $6,253,000. Dagco Inc. acquired a new position in Cameco during the 1st quarter worth approximately $28,000. Russell Investments Group Ltd. increased its position in Cameco by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 153,255 shares of the basic materials company's stock worth $6,320,000 after purchasing an additional 16,153 shares in the last quarter. Prudential PLC increased its position in Cameco by 10.4% during the 1st quarter. Prudential PLC now owns 18,350 shares of the basic materials company's stock worth $755,000 after purchasing an additional 1,730 shares in the last quarter. Finally, AGF Management Ltd. increased its position in Cameco by 19.0% during the 1st quarter. AGF Management Ltd. now owns 4,037,646 shares of the basic materials company's stock worth $166,206,000 after purchasing an additional 644,413 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 0.1%

CCJ traded down $0.04 during trading on Friday, reaching $75.51. 2,661,785 shares of the company's stock were exchanged, compared to its average volume of 4,342,646. Cameco Corporation has a one year low of $35.00 and a one year high of $80.32. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $32.88 billion, a PE ratio of 86.79 and a beta of 1.06. The firm has a fifty day moving average price of $73.74 and a two-hundred day moving average price of $56.05.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. During the same period in the prior year, the firm posted $0.14 EPS. The company's quarterly revenue was up 46.7% on a year-over-year basis. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the subject of a number of research analyst reports. Scotiabank reiterated an "outperform" rating on shares of Cameco in a research report on Tuesday, July 8th. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada upped their price objective on shares of Cameco from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Finally, TD Securities reiterated a "buy" rating on shares of Cameco in a research report on Tuesday, August 5th. Twelve equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $82.65.

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.