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

Victory Capital Management Inc. boosted its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 75.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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. owned approximately 0.57% of Cameco worth $208,490,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Sprott Inc. grew its holdings in shares of Cameco by 3.5% during the 3rd quarter. Sprott Inc. now owns 137,178 shares of the basic materials company’s stock valued at $11,504,000 after purchasing an additional 4,577 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Cameco in the 3rd quarter valued at approximately $278,000. Spark Investment Management LLC acquired a new stake in Cameco in the third quarter valued at approximately $839,000. 111 Capital bought a new stake in shares of Cameco during the third quarter worth $348,000. Finally, Fisher Asset Management LLC acquired a new position in shares of Cameco during the third quarter worth $415,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ opened at $117.74 on Wednesday. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a market cap of $51.28 billion, a price-to-earnings ratio of 121.38 and a beta of 0.98. The business has a 50-day simple moving average of $113.08 and a two-hundred day simple moving average of $95.65.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company 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 firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CCJ. Royal Bank Of Canada boosted their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. UBS Group initiated coverage on Cameco in a research note on Monday, November 10th. They issued a “neutral” rating and a $140.00 price objective for the company. Glj Research reiterated a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Raymond James Financial restated an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.03.

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.