Cibc World Market Inc. Buys Shares of 3,476,306 Cameco Corporation $CCJ

Cibc World Market Inc. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,476,306 shares of the basic materials company’s stock, valued at approximately $354,022,000.

Other institutional investors also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new stake in shares of Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $28,000 after acquiring an additional 307 shares during the last quarter. Sterling Capital Management LLC bought a new position in Cameco in the first quarter valued at approximately $30,000. Sunbelt Securities Inc. grew its holdings in Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. grew its holdings in Cameco by 3,200.0% during the 1st 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 during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Trading Up 0.0%

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

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. During the same period last year, the firm earned $0.71 EPS. Cameco’s quarterly revenue was down 6.8% on a year-over-year basis. Equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on CCJ. Scotiabank reiterated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Truist Financial upped their price objective on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Barclays cut their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cameco presently has a consensus 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.