Legal & General Group Plc Acquires 136,707 Shares of Cameco Corporation $CCJ

Legal & General Group Plc boosted its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,619,923 shares of the basic materials company’s stock after buying an additional 136,707 shares during the quarter. Legal & General Group Plc’s holdings in Cameco were worth $240,206,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Main Street Research LLC raised its holdings in Cameco by 4.8% in the 4th quarter. Main Street Research LLC now owns 381,868 shares of the basic materials company’s stock valued at $34,937,000 after buying an additional 17,476 shares during the last quarter. Morningstar Investment Management LLC bought a new position in Cameco in the 4th quarter valued at approximately $296,000. First National Trust Co bought a new position in Cameco in the 4th quarter valued at approximately $544,000. Prospera Financial Services Inc raised its holdings in Cameco by 1.6% in the 4th quarter. Prospera Financial Services Inc now owns 40,109 shares of the basic materials company’s stock valued at $3,670,000 after buying an additional 641 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Cameco by 30.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 908 shares of the basic materials company’s stock valued at $83,000 after buying an additional 210 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays assumed coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce increased their target price on shares of Cameco to $202.00 in a research report on Monday, March 9th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.62.

Cameco Stock Performance

NYSE:CCJ opened at $107.53 on Thursday. The company has a market capitalization of $46.83 billion, a PE ratio of 99.56, a P/E/G ratio of 1.83 and a beta of 1.04. The company has a 50 day simple moving average of $112.94 and a two-hundred day simple moving average of $107.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. Cameco Corporation has a fifty-two week low of $57.63 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. Research analysts anticipate that Cameco Corporation will post 1.32 earnings per share for the current year.

About Cameco

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.