Russell Investments Group Ltd. Grows Stock Position in Cameco Corporation $CCJ

Key Points

• Russell Investments Group Ltd. boosted its stake by 103% in Cameco to 304,396 shares (about $25.55 million) during the third quarter.
• Cameco beat quarterly expectations (EPS $0.36 vs. $0.29; revenue $874.6M vs. $782.1M) and several analysts have raised targets, leaving a consensus rating of "Moderate Buy" with a $150.40 target price.
• The stock has a market cap of $50.2 billion and a P/E of 118.82, with institutional investors owning about 70.21% of the shares and a 52-week range of $35.00–$135.24.

Russell Investments Group Ltd. boosted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 103.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 304,396 shares of the basic materials company's stock after buying an additional 154,463 shares during the period. Russell Investments Group Ltd. owned 0.07% of Cameco worth $25,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC increased its stake in shares of Cameco by 78.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 5,773 shares of the basic materials company's stock valued at $484,000 after acquiring an additional 2,534 shares during the last quarter. Rathbones Group PLC boosted its position in shares of Cameco by 8.7% in the third quarter. Rathbones Group PLC now owns 520,202 shares of the basic materials company's stock worth $43,662,000 after acquiring an additional 41,662 shares during the last quarter. Regal Partners Ltd boosted its position in shares of Cameco by 291.6% in the third quarter. Regal Partners Ltd now owns 447,582 shares of the basic materials company's stock worth $37,534,000 after acquiring an additional 333,279 shares during the last quarter. Parallel Advisors LLC grew its holdings in Cameco by 25.2% in the third quarter. Parallel Advisors LLC now owns 11,988 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 2,416 shares during the period. Finally, Riggs Asset Managment Co. Inc. grew its holdings in Cameco by 3.2% in the third quarter. Riggs Asset Managment Co. Inc. now owns 46,892 shares of the basic materials company's stock valued at $3,932,000 after purchasing an additional 1,443 shares during the period. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Trading Down 0.1%

Shares of CCJ stock opened at $115.25 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The firm's 50 day moving average price is $116.36 and its two-hundred day moving average price is $97.40. The stock has a market cap of $50.20 billion, a price-to-earnings ratio of 118.82 and a beta of 0.98.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Cameco to $202.00 in a research note on Monday. Royal Bank Of Canada boosted their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Tuesday, February 17th. Raymond James Financial restated an "outperform" rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.40.

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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