Wellington Management Group LLP Makes New Investment in Cameco Corporation $CCJ

Wellington Management Group LLP acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,090,158 shares of the basic materials company’s stock, valued at approximately $212,908,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CCJ. Clearstead Advisors LLC grew its holdings in shares of Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Cameco by 3.1% during the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment boosted its position in Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after buying an additional 108 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after buying an additional 114 shares in the last quarter. Finally, Midwest Trust Co grew its stake in Cameco by 4.8% during the fourth quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock worth $231,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Barclays decreased their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Bank of America dropped 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. Finally, Royal Bank Of Canada lifted their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Trading Down 1.3%

CCJ opened at $98.75 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $43.01 billion, a PE ratio of 167.37, a PEG ratio of 1.71 and a beta of 1.05. Cameco Corporation has a 1-year low of $73.20 and a 1-year high of $135.24. The firm has a 50-day moving average price of $95.84 and a two-hundred day moving average price of $106.84.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. Cameco’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal 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.