Nykredit A S Purchases Shares of 198,832 Cameco Corporation $CCJ

Key Points

• Nykredit A/S initiated a Cameco position by purchasing 198,832 shares valued at approximately $20.3 million. Institutional investors collectively own 70.21% of the company.
• Analysts remain broadly positive, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $145.09.
• Cameco’s latest quarter fell short of expectations: earnings per share were $0.13 versus the $0.26 consensus, while revenue declined 6.8% year over year to $573.06 million.

Nykredit A S purchased a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 198,832 shares of the basic materials company's stock, valued at approximately $20,259,000.

A number of other institutional investors have also recently made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new stake in shares of Cameco in the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its holdings in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after buying an additional 307 shares in the last quarter. Sterling Capital Management LLC bought a new stake in Cameco in the 1st quarter worth approximately $30,000. Sunbelt Securities Inc. increased its stake in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after acquiring an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 70.21% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CCJ shares. Sanford C. Bernstein reiterated an "outperform" rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Citigroup restated a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on shares of Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Bank of America lowered their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Truist Financial lifted their price objective on shares of Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $145.09.

Cameco Stock Performance

NYSE:CCJ opened at $100.56 on Friday. The firm has a market capitalization of $43.80 billion, a PE ratio of 170.44, a PEG ratio of 1.65 and a beta of 1.06. The stock's fifty day moving average is $95.33 and its 200 day moving average is $106.45. Cameco Corporation has a fifty-two week low of $74.63 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter last year, the firm earned $0.71 EPS. The company's revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share 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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