Cameco Corporation $CCJ Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 18.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 171,713 shares of the basic materials company’s stock after selling 39,140 shares during the period. Principal Financial Group Inc.’s holdings in Cameco were worth $18,641,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Triglav Investments D.O.O. acquired a new position in Cameco in the first quarter worth about $418,000. Carnegie Investment Counsel bought a new position in Cameco during the 1st quarter worth approximately $316,000. General American Investors Co. Inc. lifted its holdings in Cameco by 8.0% during the 1st quarter. General American Investors Co. Inc. now owns 339,230 shares of the basic materials company’s stock worth $36,844,000 after buying an additional 25,000 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Cameco by 54.2% in the 1st quarter. Fifth Third Bancorp now owns 3,304 shares of the basic materials company’s stock worth $359,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Candriam S.C.A. increased its holdings in shares of Cameco by 1.9% in the 1st quarter. Candriam S.C.A. now owns 9,009 shares of the basic materials company’s stock valued at $977,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CCJ. TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. William Blair started coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Truist Financial began coverage on shares of Cameco in a research report on Monday, July 13th. They issued a “buy” rating and a $129.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Finally, Scotiabank reiterated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Price Performance

Shares of NYSE CCJ opened at $90.40 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The firm has a market capitalization of $39.37 billion, a PE ratio of 83.70, a P/E/G ratio of 1.46 and a beta of 1.02. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The business’s fifty day moving average price is $102.06 and its two-hundred day moving average price is $110.73.

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