CIBC Asset Management Inc Acquires 10,087 Shares of Cameco Corp (NYSE:CCJ)

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CIBC Asset Management Inc grew its holdings in shares of Cameco Corp (NYSE:CCJ) (TSE:CCO) by 3.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,412 shares of the basic materials company’s stock after buying an additional 10,087 shares during the quarter. CIBC Asset Management Inc owned 0.07% of Cameco worth $2,764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC grew its holdings in shares of Cameco by 410.9% during the first quarter. William Blair Investment Management LLC now owns 10,616,122 shares of the basic materials company’s stock valued at $81,107,000 after buying an additional 8,538,323 shares during the last quarter. Exor Investments UK LLP grew its holdings in shares of Cameco by 18.3% during the second quarter. Exor Investments UK LLP now owns 10,188,363 shares of the basic materials company’s stock valued at $104,431,000 after buying an additional 1,574,685 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Cameco by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 7,872,169 shares of the basic materials company’s stock valued at $60,067,000 after buying an additional 702,300 shares during the last quarter. Norges Bank bought a new position in shares of Cameco during the fourth quarter valued at about $36,730,000. Finally, Morgan Stanley lifted its position in shares of Cameco by 23.7% during the first quarter. Morgan Stanley now owns 3,891,923 shares of the basic materials company’s stock valued at $29,734,000 after purchasing an additional 745,296 shares in the last quarter. Hedge funds and other institutional investors own 56.03% of the company’s stock.

A number of research analysts recently weighed in on the stock. Raymond James reissued a “buy” rating and set a $14.50 price target on shares of Cameco in a research report on Thursday, April 9th. ValuEngine lowered shares of Cameco from a “buy” rating to a “hold” rating in a research report on Friday, May 1st. BMO Capital Markets raised their price target on shares of Cameco from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Zacks Investment Research raised shares of Cameco from a “hold” rating to a “strong-buy” rating and set a $13.00 price target on the stock in a research report on Friday, July 17th. Finally, TD Securities raised shares of Cameco from a “hold” rating to a “buy” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.92.

Shares of CCJ stock opened at $10.16 on Friday. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 93.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.56 and a current ratio of 5.44. Cameco Corp has a 52 week low of $5.30 and a 52 week high of $12.33. The firm’s 50-day simple moving average is $10.69 and its two-hundred day simple moving average is $9.42.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.11). The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $414.76 million. Cameco had a return on equity of 1.21% and a net margin of 2.26%. The business’s revenue was up 35.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. Analysts forecast that Cameco Corp will post -0.04 earnings per share for the current year.

Cameco Profile

Cameco Corporation produces and sells uranium worldwide. The company operates in two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, as well as purchase and sale of uranium concentrate. Its operating uranium properties include the Cigar Lake property located in Saskatchewan, Canada; and the Inkai property located in Kazakhstan.

See Also: Beige Book

Institutional Ownership by Quarter for Cameco (NYSE:CCJ)

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