S&CO Inc. Takes Position in Cameco Corporation $CCJ

S&CO Inc. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, Holdings Channel.com reports. The fund bought 313,626 shares of the basic materials company’s stock, valued at approximately $31,945,000. Cameco makes up about 1.8% of S&CO Inc.’s portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd purchased a new stake in shares of Cameco in the 1st quarter valued at about $70,851,000. Sumitomo Mitsui Trust Group Inc. boosted its position 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 purchasing an additional 139,592 shares during the period. WCM Investment Management LLC purchased a new position in Cameco during the 1st quarter worth approximately $35,342,000. Amova Asset Management Americas Inc. grew its stake in 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 buying an additional 143,113 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock worth $16,883,000 after buying an additional 78,609 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Performance

NYSE CCJ opened at $97.74 on Friday. The firm has a market cap of $42.57 billion, a P/E ratio of 165.66, a P/E/G ratio of 1.67 and a beta of 1.05. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The business’s 50-day moving average price is $96.44 and its 200 day moving average price is $108.52. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCJ shares. Citigroup reiterated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Finally, Truist Financial upped their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.68.

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.