2,090,158 Shares in Cameco Corporation $CCJ Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,090,158 shares of the basic materials company’s stock, valued at approximately $212,908,000. Wellington Management Group LLP owned about 0.48% of Cameco as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd acquired a new position in Cameco during the 1st quarter valued at $70,851,000. Sumitomo Mitsui Trust Group Inc. grew its position in Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after purchasing an additional 139,592 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Cameco during the 1st quarter worth about $35,342,000. Amova Asset Management Americas Inc. increased its holdings in shares of Cameco by 37.7% during the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock worth $56,788,000 after purchasing an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock valued at $16,883,000 after buying an additional 78,609 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

NYSE:CCJ opened at $98.75 on Tuesday. The company has a 50-day moving average of $95.84 and a 200-day moving average of $106.84. The company has a market capitalization of $43.01 billion, a price-to-earnings ratio of 167.37, a PEG ratio of 1.71 and a beta of 1.05. Cameco Corporation has a 52 week low of $73.20 and a 52 week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Finally, Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.68.

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.