Sienna Gestion Has $1.37 Million Holdings in Cameco Corporation (NYSE:CCJ)

Key Points

• Sienna Gestion increased its stake in Cameco Corporation by 30.1%, acquiring an additional 7,940 shares, bringing its total holdings to 34,290 shares worth $1,372,000.
• Analysts have a positive outlook for Cameco, with twelve rating the stock as a "buy" and a price target set at an average of $82.65, reflecting strong demand in the uranium market.
• Cameco's stock recently declined 0.1% to $75.51, but the company showed impressive earnings with a reported $0.51 earnings per share, beating estimates significantly.

Sienna Gestion boosted its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,290 shares of the basic materials company's stock after buying an additional 7,940 shares during the quarter. Sienna Gestion's holdings in Cameco were worth $1,372,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCJ. Caitong International Asset Management Co. Ltd raised its stake in shares of Cameco by 1,798.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,215 shares of the basic materials company's stock valued at $50,000 after purchasing an additional 1,151 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Cameco by 2,696.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 24,971 shares of the basic materials company's stock worth $1,028,000 after purchasing an additional 24,078 shares during the last quarter. Regal Partners Ltd bought a new position in Cameco in the 1st quarter worth about $6,253,000. Dagco Inc. bought a new position in shares of Cameco in the first quarter valued at approximately $28,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cameco by 11.8% in the first quarter. Russell Investments Group Ltd. now owns 153,255 shares of the basic materials company's stock valued at $6,320,000 after acquiring an additional 16,153 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Analysts Set New Price Targets

CCJ has been the subject of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a report on Wednesday, June 18th. Glj Research reissued a "buy" rating and set a $75.27 target price on shares of Cameco in a research note on Thursday, June 12th. BMO Capital Markets restated an "outperform" rating on shares of Cameco in a research report on Tuesday, August 5th. Sanford C. Bernstein set a $70.00 price target on shares of Cameco and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group upped their price target on shares of Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Twelve equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $82.65.

Cameco Stock Down 0.1%

Cameco stock traded down $0.04 during trading hours on Friday, hitting $75.51. The company had a trading volume of 2,661,785 shares, compared to its average volume of 4,342,646. The firm has a market capitalization of $32.88 billion, a P/E ratio of 86.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.96 and a quick ratio of 2.00. The firm's fifty day moving average is $73.74 and its 200-day moving average is $56.05. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $80.32.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.22. The firm had revenue of $467.72 million for the quarter, compared to analyst estimates of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company's revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. On average, research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco 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.