Zurcher Kantonalbank Zurich Cantonalbank Has $12.27 Million Holdings in Cameco Corporation (NYSE:CCJ)

Key Points

• Zurcher Kantonalbank increased its stake in Cameco Corporation by 12.8%, totaling 298,147 shares worth $12.27 million as of the latest quarter.
• Wall Street analysts show a positive outlook for Cameco, with several firms raising price targets and issuing buy ratings, resulting in an average target price of $80.65.
• Cameco recently reported earnings per share of $0.11, missing analyst estimates, but achieved year-over-year revenue growth of 24.4%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,147 shares of the basic materials company's stock after acquiring an additional 33,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Cameco worth $12,272,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CCJ. Vanguard Capital Wealth Advisors acquired a new position in Cameco during the 4th quarter valued at about $839,000. Kayne Anderson Capital Advisors LP lifted its stake in Cameco by 41.6% in the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock valued at $1,663,000 after acquiring an additional 11,879 shares during the last quarter. Nicholson Meyer Capital Management Inc. acquired a new stake in Cameco in the first quarter valued at approximately $350,000. Balefire LLC raised its position in shares of Cameco by 42.9% in the first quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock valued at $1,383,000 after purchasing an additional 10,081 shares during the period. Finally, Galibier Capital Management Ltd. bought a new position in Cameco during the first quarter worth $11,655,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Stock Performance

Shares of CCJ traded down $0.98 during midday trading on Wednesday, reaching $77.71. 4,371,836 shares of the stock were exchanged, compared to its average volume of 4,541,292. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $80.32. The company has a quick ratio of 1.26, a current ratio of 2.70 and a debt-to-equity ratio of 0.15. The company has a market cap of $33.83 billion, a P/E ratio of 194.28 and a beta of 1.03. The stock's 50 day simple moving average is $69.16 and its 200 day simple moving average is $53.84.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The company had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same quarter in the previous year, the business posted $0.13 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, sell-side analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCJ has been the topic of several analyst reports. UBS Group reaffirmed a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Scotiabank reaffirmed an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. 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. Finally, Royal Bank Of Canada raised their price target on shares of Cameco from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $80.65.

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.