Victory Capital Management Inc. Acquires 1,073,111 Shares of Cameco Corporation $CCJ

Victory Capital Management Inc. raised its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 75.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,489,424 shares of the basic materials company’s stock after buying an additional 1,073,111 shares during the quarter. Victory Capital Management Inc.’s holdings in Cameco were worth $208,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CCJ. Vanguard Group Inc. grew its stake in Cameco by 1.3% during the third quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after acquiring an additional 235,613 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Cameco by 41.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after purchasing an additional 2,071,373 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. Norges Bank purchased a new position in shares of Cameco during the second quarter valued at about $341,736,000. Finally, Geode Capital Management LLC increased its holdings in shares of Cameco by 20.7% in the second quarter. Geode Capital Management LLC now owns 3,372,878 shares of the basic materials company’s stock worth $250,797,000 after purchasing an additional 578,393 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. National Bank Financial reissued an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Glj Research reissued a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Cameco Trading Down 6.4%

Shares of NYSE CCJ opened at $117.74 on Wednesday. Cameco Corporation has a twelve month low of $35.00 and a twelve month high of $135.24. The firm has a market cap of $51.28 billion, a PE ratio of 121.38 and a beta of 0.98. The business has a fifty day simple moving average of $113.08 and a two-hundred day simple moving average of $95.65. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million during the quarter, compared to the consensus estimate of $782.13 million. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco 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.