Perpetual Ltd Buys New Shares in Cameco Corporation $CCJ

Key Points

• Perpetual Ltd acquired 12,618 Cameco shares in the third quarter, valued at approximately $1.09 million. Institutional investors collectively own 70.21% of the company, with several major funds recently adding or initiating positions.
• Cameco shares opened at $86.20, near the lower end of their 52-week range of $77.70 to $135.24. The company recently reported quarterly EPS of $0.13, below the $0.26 analyst consensus, while revenue declined 6.8% year over year to $573.06 million.
• Analysts maintain a generally positive outlook, with 12 Buy, four Hold, and one Sell rating. Cameco has a “Moderate Buy” consensus rating and an average price target of $148.68.

Perpetual Ltd bought a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,618 shares of the basic materials company's stock, valued at approximately $1,094,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in Cameco during the second quarter worth $212,908,000. Amundi increased its stake in Cameco by 13.7% in the second quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock valued at $304,773,000 after purchasing an additional 359,375 shares in the last quarter. Temasek Holdings Private Ltd bought a new stake in Cameco in the first quarter valued at $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Cameco by 35.2% during 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 purchasing an additional 139,592 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Cameco during the second quarter valued at about $735,498,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Trading Up 0.1%

Shares of CCJ stock opened at $86.20 on Wednesday. The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of 97.86, a PEG ratio of 1.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The company has a 50-day simple moving average of $94.89 and a two-hundred day simple moving average of $101.94. Cameco Corporation has a 52-week low of $77.70 and a 52-week high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS 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 business had revenue of $573.06 million for the quarter, compared to analysts' expectations of $579.60 million. The business's revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. Research analysts anticipate that Cameco Corporation will post 1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup reissued a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Bank of America reduced 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. Weiss Ratings raised Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Royal Bank Of Canada upped their price target on Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Finally, Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cameco currently has an average rating of "Moderate Buy" and an average target price of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world's major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company's operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.

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