Varma Mutual Pension Insurance Co Takes Position in Cameco Corporation $CCJ

Key Points

• Varma Mutual Pension Insurance Co. acquired 108,900 Cameco shares in the second quarter, valued at approximately $11.1 million. Institutional investors collectively own 70.21% of the company.
• Cameco’s latest quarterly results fell short of expectations, with EPS of $0.13 versus the $0.26 consensus estimate and revenue down 6.8% year over year to $573.1 million.
• Analyst sentiment remains broadly positive: 14 analysts rate the stock a Buy and five rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $145.68 versus the $102.55 share price.

Varma Mutual Pension Insurance Co acquired a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 108,900 shares of the basic materials company's stock, valued at approximately $11,096,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC acquired a new stake in shares of Cameco during the first quarter valued at about $30,000. Brown Lisle Cummings Inc. lifted its stake in shares of Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco in the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after acquiring an additional 307 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 0.0%

CCJ stock opened at $102.55 on Monday. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 173.81, a PEG ratio of 1.75 and a beta of 1.05. Cameco Corporation has a 1-year low of $72.75 and a 1-year high of $135.24. The firm has a fifty day moving average price of $96.21 and a two-hundred day moving average price of $107.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. The company's quarterly revenue was down 6.8% compared to the same quarter last year. Research analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CCJ. Sanford C. Bernstein restated an "outperform" rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Scotiabank restated an "outperform" rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Finally, Citigroup reaffirmed a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $145.68.

Cameco Company 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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