Pictet Asset Management Holding SA Buys 16,160 Shares of Cameco Corporation $CCJ

Key Points

• Pictet Asset Management boosted its stake in Cameco by 8%, buying 16,160 shares to hold 217,382 shares worth about $19.93 million per its latest SEC filing.
• Institutional ownership is high at 70.21%; Vanguard owns roughly 18.06 million shares (~$1.65B) and several funds materially increased positions (e.g., VanEck +43.3%, TD Asset Management +116.7%).
• Analyst sentiment is broadly positive — 12 Buys vs. 3 Holds with an average target of $150.40 — and Cameco recently beat quarterly EPS and revenue estimates while trading near $120 with a ~$52.4B market cap.

Pictet Asset Management Holding SA boosted its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,382 shares of the basic materials company's stock after acquiring an additional 16,160 shares during the quarter. Pictet Asset Management Holding SA's holdings in Cameco were worth $19,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CCJ. Vanguard Group Inc. grew its holdings in shares of Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock worth $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors raised its holdings in Cameco by 0.8% during the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company's stock valued at $1,133,147,000 after buying an additional 106,872 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company's stock valued at $1,089,080,000 after buying an additional 85,762 shares during the period. Van ECK Associates Corp boosted its position in Cameco by 43.3% during the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company's stock valued at $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, TD Asset Management Inc grew its holdings in Cameco by 116.7% in the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company's stock worth $388,068,000 after acquiring an additional 2,489,207 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCJ. Glj Research reiterated a "buy" rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. Sanford C. Bernstein reissued an "outperform" rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada upped their target price on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $150.40.

Cameco Stock Performance

Shares of CCJ opened at $120.39 on Friday. The company has a 50-day simple moving average of $114.95 and a two-hundred day simple moving average of $105.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The firm has a market capitalization of $52.44 billion, a PE ratio of 124.12, a price-to-earnings-growth ratio of 2.28 and a beta of 1.04. Cameco Corporation has a one year low of $45.42 and a one year high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 EPS. On average, analysts anticipate that Cameco Corporation will post 1.2 EPS for the current fiscal year.

About Cameco

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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