Pictet Asset Management Holding SA Raises Stake in Cameco Corporation $CCJ

Pictet Asset Management Holding SA increased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,382 shares of the basic materials company’s stock after acquiring an additional 16,160 shares during the period. Pictet Asset Management Holding SA’s holdings in Cameco were worth $19,931,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Concord Wealth Partners grew its stake in shares of Cameco by 44.4% in the 4th quarter. Concord Wealth Partners now owns 1,079 shares of the basic materials company’s stock worth $99,000 after buying an additional 332 shares during the last quarter. Simon Quick Advisors LLC raised its stake in Cameco by 5.3% during the fourth quarter. Simon Quick Advisors LLC now owns 3,351 shares of the basic materials company’s stock valued at $307,000 after buying an additional 168 shares during the last quarter. Vanguard Group Inc. raised its stake in Cameco by 1.5% during 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 buying an additional 258,193 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Cameco in the fourth quarter worth $1,063,000. Finally, Kercheville Advisors LLC grew its stake in shares of Cameco by 11.8% in the fourth quarter. Kercheville Advisors LLC now owns 50,037 shares of the basic materials company’s stock worth $4,578,000 after acquiring an additional 5,300 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Down 2.2%

Shares of NYSE:CCJ opened at $120.39 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. Cameco Corporation has a 1 year low of $45.42 and a 1 year high of $135.24. The company has a market cap of $52.44 billion, a P/E ratio of 124.12, a PEG ratio of 2.28 and a beta of 1.04. The stock’s fifty day moving average price is $114.95 and its 200-day moving average price is $105.19.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $782.13 million. During the same period last year, the company earned $0.36 EPS. Cameco’s revenue for the quarter was up 1.5% on a year-over-year basis. Sell-side analysts expect that Cameco Corporation will post 1.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCJ. William Blair initiated coverage on Cameco in a report on Monday, April 20th. They set an “outperform” rating for the company. Glj Research reiterated a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. Royal Bank Of Canada raised their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Twelve research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $150.40.

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.