S&CO Inc. Raises Stock Position in Cameco Corporation (NYSE:CCJ)

Key Points

• S&CO Inc. increased its stake in Cameco Corporation by 2.0%, now holding 576,601 shares valued at approximately $23.73 million.
• Cameco's stock experienced significant trading interest, with institutional investors owning 70.21% of its shares, reflecting strong market support.
• The company reported an earnings per share of $0.11 in its recent quarterly results, falling short of analysts' expectations of $0.18.

S&CO Inc. raised its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 576,601 shares of the basic materials company's stock after buying an additional 11,170 shares during the period. Cameco comprises approximately 1.6% of S&CO Inc.'s portfolio, making the stock its 15th largest position. S&CO Inc. owned about 0.13% of Cameco worth $23,732,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cameco during the fourth quarter valued at about $188,595,000. FMR LLC raised its stake in shares of Cameco by 8.7% during the fourth quarter. FMR LLC now owns 22,639,647 shares of the basic materials company's stock valued at $1,163,942,000 after acquiring an additional 1,811,876 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Cameco by 120.2% during the fourth quarter. Driehaus Capital Management LLC now owns 2,245,539 shares of the basic materials company's stock valued at $115,398,000 after acquiring an additional 1,225,966 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Cameco by 13.5% during the fourth quarter. Alliancebernstein L.P. now owns 10,088,407 shares of the basic materials company's stock valued at $518,443,000 after acquiring an additional 1,196,336 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Cameco by 35.9% during the fourth quarter. Wellington Management Group LLP now owns 2,590,976 shares of the basic materials company's stock valued at $133,151,000 after acquiring an additional 685,145 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Down 0.6%

Shares of NYSE:CCJ traded down $0.46 during trading on Tuesday, reaching $78.68. 3,712,277 shares of the stock traded hands, compared to its average volume of 4,664,337. The stock has a 50-day moving average of $69.16 and a two-hundred day moving average of $53.84. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $80.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock has a market cap of $34.26 billion, a P/E ratio of 196.71 and a beta of 1.03.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a net margin of 7.50% and a return on equity of 4.47%. The firm had revenue of $549.58 million for the quarter, compared to analysts' expectations of $890.07 million. During the same quarter in the previous year, the company earned $0.13 EPS. The company's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Desjardins assumed coverage on shares of Cameco in a research note on Friday, April 4th. They issued a "buy" rating for the company. The Goldman Sachs Group increased their price target on shares of Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Raymond James Financial reissued an "outperform" rating on shares of Cameco in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada increased their price target on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $80.65.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.