Janus Henderson Group PLC Buys 78,609 Shares of Cameco Corporation $CCJ

Key Points

• Janus Henderson Group more than doubled its Cameco stake in the first quarter, adding 78,609 shares to own 155,427 shares valued at approximately $16.9 million. Institutional investors collectively hold 70.21% of Cameco’s stock.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $146.18, despite some recent target-price reductions.
• Cameco’s latest quarterly results fell short of expectations: earnings were $0.13 per share versus a $0.26 estimate, while revenue declined 6.8% year over year to $573.06 million.

Janus Henderson Group PLC raised its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 102.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 155,427 shares of the basic materials company's stock after acquiring an additional 78,609 shares during the quarter. Janus Henderson Group PLC's holdings in Cameco were worth $16,883,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup reissued a "positive" rating on shares of Cameco in a research note on Wednesday, July 15th. Bank of America lowered their target price on Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Scotiabank reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Barclays cut their price target on Cameco from $108.00 to $104.00 and set an "equal weight" rating for the company in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $146.18.

Cameco Stock Up 4.0%

NYSE:CCJ opened at $89.85 on Tuesday. The company has a market cap of $39.13 billion, a price-to-earnings ratio of 152.29, a P/E/G ratio of 1.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock's fifty day moving average price is $99.15 and its two-hundred day moving average price is $109.78. Cameco Corporation has a 52-week low of $68.96 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 7.64%. 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 anticipate that Cameco Corporation will post 1.34 EPS 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.

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