Mediolanum International Funds Ltd Purchases 9,718 Shares of Cameco Corporation $CCJ

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Cameco in the fourth quarter worth $443,265,000. Marshall Wace LLP raised its position in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Cameco by 14,338.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after acquiring an additional 1,104,378 shares during the period. Man Group plc lifted its stake in Cameco by 126.3% during the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after acquiring an additional 948,068 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Cameco by 1,339.8% during the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock valued at $88,247,000 after acquiring an additional 897,558 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCJ. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Barclays decreased their target price on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 15th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Finally, Bank of America reduced their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Stock Down 0.9%

NYSE CCJ opened at $84.84 on Tuesday. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $36.95 billion, a P/E ratio of 78.55, a price-to-earnings-growth ratio of 1.40 and a beta of 1.02. The stock’s 50-day moving average price is $103.12 and its 200-day moving average price is $110.75.

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