Deutsche Bank AG Makes New $106.49 Million Investment in Cameco Corporation $CCJ

Deutsche Bank AG purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,045,421 shares of the basic materials company’s stock, valued at approximately $106,487,000.

Several other institutional investors and hedge funds have also made changes to their positions in CCJ. Norges Bank purchased a new stake in Cameco during the 4th quarter worth about $443,265,000. Marshall Wace LLP lifted its holdings in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Cameco in the 2nd quarter valued at about $163,449,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cameco by 14,338.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock worth $101,744,000 after purchasing an additional 1,104,378 shares during the last quarter. Finally, Man Group plc boosted its stake in shares of Cameco by 126.3% during the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock worth $142,455,000 after purchasing an additional 948,068 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 2.0%

Shares of NYSE:CCJ opened at $97.95 on Thursday. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The firm has a market cap of $42.66 billion, a price-to-earnings ratio of 166.01, a PEG ratio of 1.64 and a beta of 1.05. The stock’s 50-day moving average price is $96.25 and its two-hundred day moving average price is $107.72. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. On average, research analysts forecast that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CCJ shares. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Barclays decreased their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Scotiabank reissued an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cameco has an average rating of “Moderate Buy” and a consensus price target of $145.68.

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.