Primecap Management Co. CA Acquires Shares of 925,170 Cameco Corporation $CCJ

Primecap Management Co. CA bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, Holdings Channel.com reports. The fund bought 925,170 shares of the basic materials company’s stock, valued at approximately $94,238,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CCJ shares. 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. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Cameco Stock Performance

Shares of CCJ stock opened at $107.03 on Wednesday. The stock has a fifty day moving average price of $96.10 and a 200 day moving average price of $107.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The stock has a market cap of $46.61 billion, a PE ratio of 181.40, a P/E/G ratio of 1.75 and a beta of 1.05. Cameco Corporation has a 1 year low of $73.20 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share 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 company posted $0.71 EPS. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. Sell-side analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.