Jennison Associates LLC Has $51.74 Million Stake in Cameco Corporation $CCJ

Jennison Associates LLC lifted its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 476,345 shares of the basic materials company’s stock after acquiring an additional 26,768 shares during the period. Jennison Associates LLC owned 0.11% of Cameco worth $51,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CCJ. McAlvany Wealth Management LLC raised its holdings in shares of Cameco by 2.4% during the first quarter. McAlvany Wealth Management LLC now owns 9,082 shares of the basic materials company’s stock valued at $934,000 after purchasing an additional 211 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Cameco by 19.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,320 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 381 shares in the last quarter. Ranch Capital Advisors Inc. grew its stake in shares of Cameco by 3.4% in the 1st quarter. Ranch Capital Advisors Inc. now owns 6,759 shares of the basic materials company’s stock valued at $734,000 after buying an additional 224 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Cameco by 91.4% in the 1st quarter. Simon Quick Advisors LLC now owns 6,415 shares of the basic materials company’s stock valued at $697,000 after buying an additional 3,064 shares during the period. Finally, Bessemer Group Inc. increased its position in Cameco by 9.3% in the 1st quarter. Bessemer Group Inc. now owns 1,763 shares of the basic materials company’s stock valued at $192,000 after buying an additional 150 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Securities downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. 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 note on Thursday, July 9th. Barclays decreased their price objective on Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday. Royal Bank Of Canada upped their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Finally, Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and an average price target of $146.18.

Cameco Trading Down 0.0%

NYSE:CCJ opened at $85.61 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The company has a market cap of $37.28 billion, a PE ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. The firm has a 50-day moving average of $103.83 and a 200-day moving average of $110.80.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. As a group, equities research analysts expect that Cameco Corporation will post 1.29 EPS for the current fiscal year.

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.