Korea Investment CORP Invests $95.83 Million in Cameco Corporation $CCJ

Korea Investment CORP purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 940,555 shares of the basic materials company’s stock, valued at approximately $95,835,000. Korea Investment CORP owned about 0.22% of Cameco at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Cameco during the 4th quarter valued at $443,265,000. BlackRock Inc. bought a new stake in Cameco during the second quarter worth about $381,091,000. Marshall Wace LLP lifted its stake in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Cameco in the 2nd quarter worth about $163,449,000. Finally, Northwestern Mutual Wealth Management Co. increased its position 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 valued at $101,744,000 after purchasing an additional 1,104,378 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Trading Up 7.3%

Shares of CCJ opened at $102.55 on Friday. Cameco Corporation has a 1-year low of $72.75 and a 1-year high of $135.24. The firm has a market capitalization of $44.66 billion, a price-to-earnings ratio of 173.81, a PEG ratio of 1.63 and a beta of 1.05. The firm’s 50-day moving average price is $96.21 and its 200-day moving average price is $107.49. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued 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 company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the business earned $0.71 earnings per share. Sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCJ shares. Royal Bank Of Canada upped their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Truist Financial upped their price objective on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco 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.