Mitsubishi UFJ Asset Management UK Ltd. Makes New Investment in Cameco Corporation $CCJ

Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 24,000 shares of the basic materials company’s stock, valued at approximately $2,196,000. Cameco comprises approximately 1.1% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Bridge LLC increased its stake in shares of Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after acquiring an additional 100 shares during the last quarter. S.A. Mason LLC increased its stake in shares of Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 112 shares during the last quarter. Midwest Trust Co increased its stake in shares of Cameco by 4.8% in the 4th quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 116 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Cameco by 3.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 120 shares during the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CCJ shares. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.13.

Cameco Stock Down 1.5%

Shares of NYSE:CCJ opened at $103.53 on Wednesday. The business has a 50-day moving average price of $113.95 and a 200 day moving average price of $107.18. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $45.09 billion, a price-to-earnings ratio of 95.86, a PEG ratio of 1.77 and a beta of 1.04. Cameco Corporation has a 12-month low of $51.46 and a 12-month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period last year, the company earned $0.16 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Cameco Corporation will post 1.32 EPS for the current 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.