Caisse de depot et placement du Quebec Takes $75.57 Million Position in Cameco Corporation $CCJ

Caisse de depot et placement du Quebec acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 741,696 shares of the basic materials company’s stock, valued at approximately $75,573,000.

Other large investors also recently bought and sold shares of the company. Man Group plc purchased a new stake in Cameco during the second quarter worth $82,117,000. Councilmark Asset Management LLC purchased a new position in shares of Cameco in the 2nd quarter valued at $2,496,000. Jupiter Topco LLC purchased a new position in shares of Cameco in the 2nd quarter valued at $18,205,000. Wedbush Fund Advisers LLC bought a new position in shares of Cameco in the 2nd quarter worth $516,000. Finally, Bristol Gate Capital Partners Inc. bought a new position in shares of Cameco in the 2nd quarter worth $484,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 0.9%

Shares of Cameco stock opened at $106.40 on Friday. The firm has a market capitalization of $46.34 billion, a price-to-earnings ratio of 180.34, a PEG ratio of 1.84 and a beta of 1.05. 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’s 50 day simple moving average is $96.13 and its two-hundred day simple moving average is $107.12. Cameco Corporation has a 12-month low of $73.20 and a 12-month high of $135.24.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CCJ shares. Scotiabank reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently 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.