Van ECK Associates Corp Raises Stock Holdings in Cameco Corporation $CCJ

Key Points

• Van ECK Associates raised its stake in Cameco by 43.3% in Q3 to 5,443,807 shares—about 1.25% of the company—valued at roughly $456,530,000.
• Other institutions also increased or initiated positions, leaving hedge funds and institutional investors with a combined 70.21% ownership of Cameco.
• Cameco beat quarterly estimates with EPS of $0.36 (vs. $0.29 expected) and $874.6M in revenue, trades near $116.35 with a $50.67B market cap, and holds a consensus "Moderate Buy" analyst target of $150.40.

Van ECK Associates Corp raised its stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 43.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,443,807 shares of the basic materials company's stock after purchasing an additional 1,644,061 shares during the quarter. Van ECK Associates Corp owned 1.25% of Cameco worth $456,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Abbington Investment Group bought a new stake in Cameco in the 3rd quarter worth $6,506,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cameco by 79.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company's stock worth $20,964,000 after purchasing an additional 110,629 shares during the last quarter. Nwam LLC increased its holdings in Cameco by 11.7% during the 2nd quarter. Nwam LLC now owns 81,129 shares of the basic materials company's stock valued at $6,304,000 after purchasing an additional 8,519 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company's stock valued at $12,593,000 after acquiring an additional 105,523 shares in the last quarter. Finally, NWF Advisory Services Inc. purchased a new position in Cameco during the 3rd quarter valued at $1,996,000. Hedge funds and other institutional investors own 70.21% of the company's stock.

Cameco Stock Performance

Shares of CCJ opened at $116.35 on Tuesday. The company has a market cap of $50.67 billion, a price-to-earnings ratio of 119.95 and a beta of 0.98. The business's fifty day simple moving average is $114.84 and its two-hundred day simple moving average is $96.83. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCJ shares. Zacks Research lowered Cameco from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce increased their price target on shares of Cameco to $202.00 in a research note on Monday. Glj Research reissued a "buy" rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a "buy" rating and issued a $131.00 target price on shares of Cameco in a report on Wednesday, February 4th. Finally, Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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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