WCM Investment Management LLC Takes Position in Cameco Corporation $CCJ

WCM Investment Management LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 343,656 shares of the basic materials company’s stock, valued at approximately $35,342,000. WCM Investment Management LLC owned 0.08% of Cameco as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after buying an additional 258,193 shares in the last quarter. Capital World Investors lifted its holdings in Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Cameco by 15.6% during the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Morgan Stanley grew its stake in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after acquiring an additional 323,693 shares during the period. Finally, Norges Bank bought a new stake in shares of Cameco in the fourth quarter worth about $443,265,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCJ. Barclays lowered their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday. Truist Financial assumed coverage on shares of Cameco in a report on Monday, July 13th. They set a “buy” rating and a $129.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Finally, Scotiabank reissued an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.18.

Cameco Price Performance

NYSE:CCJ opened at $85.61 on Monday. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The company has a market cap of $37.28 billion, a P/E ratio of 79.27, a P/E/G ratio of 1.40 and a beta of 1.02. The firm’s fifty day moving average price is $103.83 and its two-hundred day moving average price is $110.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. Equities analysts expect that Cameco Corporation will post 1.29 earnings per share for the current year.

About Cameco

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.