Russell Investments Group Ltd. Raises Position in Cameco Corporation $CCJ

by · The Markets Daily

Russell Investments Group Ltd. increased its stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) by 103.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 304,396 shares of the basic materials company’s stock after buying an additional 154,463 shares during the quarter. Russell Investments Group Ltd.’s holdings in Cameco were worth $25,553,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Cameco by 3.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock worth $330,000 after acquiring an additional 120 shares during the period. Lee Johnson Capital Management LLC raised its stake in shares of Cameco by 1.2% during the third quarter. Lee Johnson Capital Management LLC now owns 10,770 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 127 shares during the period. Wealth Alliance LLC lifted its position in shares of Cameco by 1.6% during the second quarter. Wealth Alliance LLC now owns 10,036 shares of the basic materials company’s stock worth $745,000 after purchasing an additional 154 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Cameco by 11.2% during the third quarter. Versant Capital Management Inc now owns 1,590 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 160 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Cameco by 4.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 3,758 shares of the basic materials company’s stock valued at $315,000 after purchasing an additional 160 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Down 0.1%

Shares of NYSE:CCJ opened at $115.25 on Friday. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 118.82 and a beta of 0.98. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $135.24. The company’s fifty day moving average is $116.36 and its two-hundred day moving average is $97.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same period in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCJ. Royal Bank Of Canada lifted their price target on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a research report on Monday. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $131.00 price target on shares of Cameco in a report on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $150.40.

Read Our Latest Report on CCJ

Cameco Profile

(Free Report)

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.

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