Nykredit A S Acquires Shares of 164,232 Cameco Corporation $CCJ

Key Points

• Nykredit A/S acquired 164,232 Cameco shares during the second quarter, valued at approximately $16.7 million. Institutional investors collectively own 70.21% of Cameco’s stock.
• Cameco reported quarterly EPS of $0.13, missing the $0.26 consensus estimate, while revenue fell 6.8% year over year to $573.1 million.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and five Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $148.68.

Nykredit A S bought a new position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 164,232 shares of the basic materials company's stock, valued at approximately $16,734,000.

Several other large investors have also recently modified their holdings of the business. Amundi boosted its stake in Cameco by 13.7% in the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock worth $304,773,000 after purchasing an additional 359,375 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Cameco during the second quarter valued at about $249,000. Yarger Wealth Strategies LLC purchased a new stake in shares of Cameco in the second quarter worth about $246,000. HB Wealth Management LLC lifted its holdings in shares of Cameco by 14.1% in the second quarter. HB Wealth Management LLC now owns 4,061 shares of the basic materials company's stock worth $414,000 after buying an additional 501 shares in the last quarter. Finally, FirstWave Capital Management LLC bought a new position in shares of Cameco in the second quarter valued at approximately $977,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

Shares of CCJ opened at $91.81 on Friday. Cameco Corporation has a 12-month low of $77.70 and a 12-month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a market cap of $39.99 billion, a PE ratio of 155.61, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The stock has a 50-day moving average price of $94.92 and a 200-day moving average price of $104.86.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Barclays lowered their target price on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Jefferies Financial Group started coverage on shares of Cameco in a report on Thursday, September 3rd. They issued a "buy" rating and a $138.00 price target for the company. Royal Bank Of Canada boosted their price target on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Finally, Weiss Ratings cut shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $148.68.

Cameco Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

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