Connor Clark & Lunn Investment Management Ltd. Has $360.06 Million Stock Holdings in Cameco Corporation $CCJ

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 32.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,291,202 shares of the basic materials company’s stock after purchasing an additional 1,060,842 shares during the quarter. Cameco makes up approximately 1.1% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 16th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cameco were worth $360,063,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cameco by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after buying an additional 235,613 shares during the period. Capital World Investors lifted its holdings in Cameco by 0.8% during the third quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock worth $1,133,147,000 after acquiring an additional 106,872 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Cameco by 41.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after acquiring an additional 2,071,373 shares during the period. Van ECK Associates Corp increased its holdings in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after acquiring an additional 2,489,207 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Canadian Imperial Bank of Commerce boosted their target price on shares of Cameco to $202.00 in a report on Monday. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Raymond James Financial reiterated an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 target price on shares of Cameco in a report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Cameco Trading Down 3.9%

Shares of NYSE:CCJ opened at $115.37 on Thursday. Cameco Corporation has a 12-month low of $35.00 and a 12-month high of $135.24. The stock has a market cap of $50.25 billion, a PE ratio of 118.94 and a beta of 0.98. The business has a 50 day moving average of $115.89 and a 200-day moving average of $97.28. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The company had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current 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.