Main Street Research LLC Has $34.94 Million Position in Cameco Corporation $CCJ

Main Street Research LLC raised its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 381,868 shares of the basic materials company’s stock after buying an additional 17,476 shares during the quarter. Cameco comprises 2.0% of Main Street Research LLC’s portfolio, making the stock its 25th biggest position. Main Street Research LLC’s holdings in Cameco were worth $34,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CCJ. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cameco by 79.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares during the period. NWF Advisory Services Inc. acquired a new position in shares of Cameco in the 3rd quarter valued at approximately $1,996,000. Mediolanum International Funds Ltd grew its position in shares of Cameco by 165.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 34,267 shares of the basic materials company’s stock valued at $2,894,000 after purchasing an additional 21,361 shares during the period. Allianz Asset Management GmbH grew its position in shares of Cameco by 278.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 145,429 shares of the basic materials company’s stock valued at $12,208,000 after purchasing an additional 106,987 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Cameco by 4.6% in the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock valued at $208,450,000 after purchasing an additional 108,841 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 0.0%

NYSE:CCJ opened at $104.71 on Monday. Cameco Corporation has a twelve month low of $55.11 and a twelve month high of $135.24. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $113.20 and a two-hundred day moving average price of $107.23. The company has a market cap of $45.61 billion, a P/E ratio of 96.96, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share 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 quarter in the prior year, the firm posted $0.16 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Cameco Corporation will post 1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CCJ shares. Canadian Imperial Bank of Commerce boosted their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Weiss Ratings lowered Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Glj Research reiterated a “buy” rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.62.

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.