Cameco Corporation $CCJ Shares Bought by CI Investments Inc.

CI Investments Inc. grew its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 102.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 81,985 shares of the basic materials company’s stock after purchasing an additional 41,580 shares during the period. CI Investments Inc.’s holdings in Cameco were worth $8,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CCJ. Sterling Capital Management LLC purchased a new stake in shares of Cameco in the first quarter valued at about $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the 4th quarter worth approximately $25,000. Brown Lisle Cummings Inc. increased its stake in shares of Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Founders Capital Management purchased a new stake in Cameco in the 4th quarter valued at approximately $27,000. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Up 1.9%

Shares of NYSE:CCJ opened at $90.40 on Thursday. The stock has a 50-day simple moving average of $102.06 and a 200-day simple moving average of $110.73. The stock has a market capitalization of $39.37 billion, a P/E ratio of 83.70, a PEG ratio of 1.46 and a beta of 1.02. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. 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 (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. Equities analysts forecast that Cameco Corporation will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Bank of America cut their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Truist Financial initiated coverage on Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price objective on the stock. Barclays cut their target price on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.18.

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.