Van ECK Associates Corp Grows Stock Position in Cameco Corporation $CCJ

Van ECK Associates Corp boosted its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 43.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,443,807 shares of the basic materials company’s stock after buying an additional 1,644,061 shares during the quarter. Van ECK Associates Corp’s holdings in Cameco were worth $456,530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CCJ. Bison Wealth LLC lifted its position in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 1,361 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cameco by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after buying an additional 64,512 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Cameco in the second quarter valued at about $74,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $116.35 on Tuesday. The firm has a market capitalization of $50.67 billion, a PE ratio of 119.95 and a beta of 0.98. The stock’s fifty day moving average is $114.84 and its 200 day moving average is $96.83. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. UBS Group began coverage on Cameco in a research report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective for the company. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Glj Research reaffirmed a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a report on Wednesday, February 18th. Finally, Royal Bank Of Canada raised their target price on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

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.