Legal & General Group Plc bought a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,560,902 shares of the basic materials company's stock, valued at approximately $260,935,000. Legal & General Group Plc owned approximately 0.59% of Cameco as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Temasek Holdings Private Ltd purchased a new position in Cameco during the 1st quarter worth $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company's stock valued at $58,187,000 after buying an additional 139,592 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Cameco in the first quarter worth about $35,342,000. Amova Asset Management Americas Inc. boosted its holdings in Cameco by 37.7% in the first quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company's stock worth $56,788,000 after acquiring an additional 143,113 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company's stock worth $16,883,000 after acquiring an additional 78,609 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.
Cameco Trading Up 0.5%
NYSE CCJ opened at $107.51 on Thursday. Cameco Corporation has a 1 year low of $73.20 and a 1 year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The company has a market capitalization of $46.82 billion, a PE ratio of 182.22, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a fifty day moving average of $96.14 and a 200 day moving average of $107.17.
Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the business posted $0.71 earnings per share. Cameco's revenue for the quarter was down 6.8% on a year-over-year basis. Research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. 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. Scotiabank reissued an "outperform" rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Truist Financial raised their price objective on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.68.
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About Cameco
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Free Report)
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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