Primecap Management Co. CA Takes Position in Cameco Corporation $CCJ

Key Points

• Primecap Management initiated a Cameco stake of 925,170 shares worth approximately $94.2 million, representing about 0.21% of the company.
• Institutional investors own 70.21% of Cameco, while analysts maintain a “Moderate Buy” consensus with an average price target of $145.68.
• Cameco shares opened at $107.03 after rising 4.7%, but the company’s latest quarterly results missed expectations, with EPS of $0.13 versus the $0.26 consensus and revenue down 6.8% year over year.

Primecap Management Co. CA purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 925,170 shares of the basic materials company's stock, valued at approximately $94,238,000. Primecap Management Co. CA owned about 0.21% of Cameco at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCJ. Bison Wealth LLC lifted its holdings in shares of Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC grew its stake in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock worth $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund purchased a new stake in Cameco in the second quarter valued at approximately $14,252,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several research analyst reports. Wall Street Zen downgraded Cameco from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. Scotiabank reiterated an "outperform" rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Barclays decreased their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 4th. Finally, Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cameco currently has a consensus rating of "Moderate Buy" and an average target price of $145.68.

Cameco Stock Up 4.7%

Cameco stock opened at $107.03 on Wednesday. Cameco Corporation has a twelve month low of $73.20 and a twelve month high of $135.24. The stock has a 50 day moving average of $96.10 and a two-hundred day moving average of $107.18. 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 stock has a market capitalization of $46.61 billion, a price-to-earnings ratio of 181.40, a PEG ratio of 1.75 and a beta of 1.05.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (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 company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period in the previous year, the firm posted $0.71 EPS. The company's revenue for the quarter was down 6.8% on a year-over-year basis. As a group, research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current 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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