Norges Bank Takes $443.27 Million Position in Cameco Corporation $CCJ

Norges Bank purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,841,376 shares of the basic materials company’s stock, valued at approximately $443,265,000. Norges Bank owned about 1.11% of Cameco at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Cameco during the 4th quarter valued at about $24,733,000. Northwestern Mutual Wealth Management Co. increased its stake in Cameco by 19.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,173 shares of the basic materials company’s stock worth $839,000 after purchasing an additional 1,471 shares during the period. Moors & Cabot Inc. increased its stake in Cameco by 23.9% during the fourth quarter. Moors & Cabot Inc. now owns 9,334 shares of the basic materials company’s stock worth $854,000 after purchasing an additional 1,800 shares during the period. Foundations Investment Advisors LLC purchased a new stake in Cameco during the fourth quarter worth about $500,000. Finally, IPG Investment Advisors LLC increased its stake in Cameco by 5.1% during the fourth quarter. IPG Investment Advisors LLC now owns 3,015 shares of the basic materials company’s stock worth $276,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ opened at $112.71 on Tuesday. The stock has a 50 day moving average price of $113.12 and a 200 day moving average price of $107.90. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of 104.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.99. Cameco Corporation has a 52-week low of $58.18 and a 52-week high of $135.24.

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 analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 earnings per share. Research analysts predict that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Glj Research restated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 target price on shares of Cameco in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco 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.