Hsbc Holdings PLC Has $3.14 Million Holdings in Cameco Corporation $CCJ

Key Points

• HSBC Holdings PLC sharply reduced its Cameco stake in the fourth quarter, cutting holdings by 85.9% to 34,163 shares valued at about $3.14 million.
• Institutional ownership remains heavy despite HSBC’s selloff, with hedge funds and other investors owning 70.21% of Cameco’s stock; major holders like Vanguard and Legal & General also reported sizable positions.
• Analysts remain broadly positive on Cameco overall, with a consensus rating of “Moderate Buy” and an average price target of $148.11, even though some firms recently downgraded or set more cautious ratings.

Hsbc Holdings PLC lessened its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 85.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,163 shares of the basic materials company's stock after selling 207,681 shares during the quarter. Hsbc Holdings PLC's holdings in Cameco were worth $3,139,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Cameco by 4.6% during the third quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company's stock valued at $208,450,000 after purchasing an additional 108,841 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in Cameco in the fourth quarter worth $1,974,000. Vanguard Group Inc. lifted its position in Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Cameco by 0.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock worth $1,089,080,000 after buying an additional 85,762 shares in the last quarter. Finally, Nikulski Financial Inc. acquired a new stake in Cameco during the fourth quarter worth $930,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Analyst Ratings Changes

CCJ has been the subject of a number of recent research reports. TD Securities cut shares of Cameco from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. Weiss Ratings lowered shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. Sanford C. Bernstein reissued an "outperform" rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Scotiabank reissued an "outperform" rating and issued a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Finally, Barclays began coverage on Cameco in a report on Thursday, May 21st. They set an "equal weight" rating and a $108.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.11.

Cameco Stock Performance

Cameco stock opened at $96.06 on Friday. The firm has a market capitalization of $41.84 billion, a P/E ratio of 88.94, a P/E/G ratio of 1.67 and a beta of 1.02. The stock has a fifty day moving average price of $106.85 and a two-hundred day moving average price of $110.81. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Cameco Corporation will post 1.21 EPS for the current fiscal 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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