W1M Asset Management Ltd Purchases New Position in Cameco Corporation $CCJ

Key Points

• W1M Asset Management acquired 235,661 Cameco shares worth approximately $24 million, representing about 0.05% of the company. Institutional investors collectively own 70.21% of Cameco.
• Cameco’s latest quarterly results fell short of expectations, with earnings of $0.13 per share versus the $0.26 consensus estimate and revenue down 6.8% year over year to $573.06 million.
• Despite mixed analyst actions, Cameco maintains a “Moderate Buy” consensus rating from 19 analysts, with an average price target of $145.68 compared with its recent price of $102.55.

W1M Asset Management Ltd acquired a new position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 235,661 shares of the basic materials company's stock, valued at approximately $24,003,000. W1M Asset Management Ltd owned about 0.05% of Cameco at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCJ. Varma Mutual Pension Insurance Co bought a new position in shares of Cameco during the 2nd quarter valued at approximately $11,096,000. De Lisle Partners LLP bought a new stake in Cameco in the second quarter worth $58,147,000. William Blair Investment Management LLC purchased a new stake in Cameco during the second quarter valued at $189,331,000. Korea Investment CORP purchased a new position in shares of Cameco in the 2nd quarter worth $95,835,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Cameco in the 2nd quarter worth about $1,543,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ stock opened at $102.55 on Friday. The stock has a market cap of $44.66 billion, a PE ratio of 173.81, a P/E/G ratio of 1.75 and a beta of 1.05. Cameco Corporation has a 12 month low of $72.75 and a 12 month high of $135.24. The company has a 50-day moving average price of $96.21 and a 200 day moving average price of $107.49. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share 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 firm had revenue of $573.06 million during the quarter, compared to analysts' expectations of $579.60 million. During the same period last year, the company earned $0.71 earnings per share. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on CCJ shares. Wall Street Zen downgraded shares of Cameco from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Citigroup restated a "positive" rating on shares of Cameco in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their price objective on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Monday, June 29th. Truist Financial lifted their target price on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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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