Mediolanum International Funds Ltd Grows Stock Holdings in Cameco Corporation $CCJ

Mediolanum International Funds Ltd grew its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 40.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,603 shares of the basic materials company’s stock after buying an additional 9,718 shares during the period. Mediolanum International Funds Ltd’s holdings in Cameco were worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 valued at $58,187,000 after buying an additional 139,592 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new stake in Cameco during the fourth quarter valued at approximately $1,974,000. Vanguard Group Inc. boosted its stake in Cameco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Goehring & Rozencwajg Associates LLC boosted its stake in Cameco by 22.5% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 836,431 shares of the basic materials company’s stock valued at $90,845,000 after acquiring an additional 153,479 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Cameco by 118.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 145,643 shares of the basic materials company’s stock worth $15,835,000 after purchasing an additional 78,990 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of research analyst reports. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Truist Financial assumed coverage on Cameco in a research note on Monday, July 13th. They set a “buy” rating and a $129.00 price target on the stock. Finally, TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Price Performance

Cameco stock opened at $84.84 on Tuesday. The company’s fifty day moving average price is $103.12 and its 200 day moving average price is $110.75. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. The stock has a market capitalization of $36.95 billion, a P/E ratio of 78.55, a P/E/G ratio of 1.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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. The company had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, equities research analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current fiscal year.

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.