Legal & General Group Plc Acquires 108,841 Shares of Cameco Corporation $CCJ

Key Points

• Legal & General Group Plc increased its stake in Cameco by 4.6%, buying 108,841 shares to hold 2,483,216 shares (about 0.57%), valued at roughly $208.45 million.
• Cameco beat quarterly expectations with $0.36 EPS versus $0.29 est. and $874.6M revenue, and trades with a market cap of $50.2B, a P/E of 118.82, and a 52‑week range of $35.00–$135.24.
• About 70.21% of the stock is owned by institutions, and analysts give a consensus "Moderate Buy" rating with an average target price of $150.40 (13 Buys, 2 Holds).

Legal & General Group Plc increased its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,483,216 shares of the basic materials company's stock after acquiring an additional 108,841 shares during the quarter. Legal & General Group Plc owned about 0.57% of Cameco worth $208,450,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CCJ. Bison Wealth LLC boosted its holdings in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC increased its holdings in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after buying an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Cameco by 11.9% during the first 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 valued at $24,895,000 after buying an additional 64,512 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in shares of Cameco in the second quarter valued at about $406,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

Cameco stock opened at $115.25 on Friday. The firm has a market capitalization of $50.20 billion, a P/E ratio of 118.82 and a beta of 0.98. The stock has a fifty day moving average price of $116.36 and a two-hundred day moving average price of $97.40. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same quarter in the previous year, the company earned $0.36 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CCJ. Weiss Ratings raised Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research report on Monday. Sanford C. Bernstein reissued an "outperform" rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Glj Research restated a "buy" rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $150.40.

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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