Jennison Associates LLC Purchases 26,768 Shares of Cameco Corporation $CCJ

Jennison Associates LLC grew its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 476,345 shares of the basic materials company’s stock after purchasing an additional 26,768 shares during the period. Jennison Associates LLC’s holdings in Cameco were worth $51,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC bought a new position in shares of Cameco during the 1st quarter worth approximately $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Cameco in the 4th quarter worth about $25,000. Brown Lisle Cummings Inc. grew its position in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares during the period. Founders Capital Management bought a new position in Cameco during the fourth quarter valued at about $27,000. Finally, Mcguire Capital Advisors Inc. bought a new position in Cameco during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CCJ. Barclays decreased their target price on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. William Blair initiated coverage on shares of Cameco in a research note on Monday, April 20th. They set an “outperform” rating on the stock. 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, Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Stock Down 0.0%

Shares of NYSE CCJ opened at $85.61 on Monday. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $103.83 and a 200-day moving average of $110.80. The firm has a market capitalization of $37.28 billion, a price-to-earnings ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. Cameco Corporation has a 12 month low of $68.96 and a 12 month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same period last year, the firm posted $0.16 earnings per share. Cameco’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

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.