Vanguard Group Inc. Increases Holdings in Cameco Corporation (NYSE:CCJ)

Vanguard Group Inc. increased its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 17,084,358 shares of the basic materials company's stock after acquiring an additional 300,088 shares during the period. Vanguard Group Inc. owned approximately 3.92% of Cameco worth $703,295,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Cameco by 1.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,846,044 shares of the basic materials company's stock worth $865,729,000 after buying an additional 190,337 shares during the period. Driehaus Capital Management LLC raised its stake in shares of Cameco by 120.2% in 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cameco by 2.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,215,853 shares of the basic materials company's stock valued at $91,205,000 after acquiring an additional 56,583 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Cameco by 1.1% in the first quarter. TD Asset Management Inc now owns 2,056,644 shares of the basic materials company's stock valued at $84,652,000 after acquiring an additional 23,321 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Cameco by 25.4% in the fourth quarter. Marshall Wace LLP now owns 1,777,862 shares of the basic materials company's stock valued at $91,364,000 after acquiring an additional 359,794 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCJ has been the topic of several analyst reports. UBS Group reiterated a "buy" rating on shares of Cameco in a research note on Tuesday, June 10th. The Goldman Sachs Group raised their price target on Cameco from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Raymond James Financial reiterated an "outperform" rating on shares of Cameco in a research report on Wednesday, June 18th. Glj Research reiterated a "buy" rating and set a $75.27 target price on shares of Cameco in a research report on Thursday, June 12th. Finally, Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Twelve investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $82.65.

Cameco Stock Performance

Shares of NYSE CCJ traded down $0.04 during midday trading on Friday, reaching $75.51. 2,661,785 shares of the company were exchanged, compared to its average volume of 4,342,646. The company has a current ratio of 2.96, a quick ratio of 2.00 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $80.32. The stock has a fifty day simple moving average of $73.74 and a 200 day simple moving average of $56.01. The stock has a market cap of $32.88 billion, a P/E ratio of 86.79 and a beta of 1.06.

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

About Cameco

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.