108,900 Shares in Cameco Corporation $CCJ Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 108,900 shares of the basic materials company’s stock, valued at approximately $11,096,000.

Other hedge funds also recently added to or reduced their stakes in the company. De Lisle Partners LLP bought a new position in shares of Cameco during the second quarter worth about $58,147,000. William Blair Investment Management LLC bought a new stake in Cameco in the 2nd quarter valued at about $189,331,000. Korea Investment CORP acquired a new position in Cameco during the 2nd quarter valued at about $95,835,000. EP Wealth Advisors LLC acquired a new position in Cameco during the 2nd quarter valued at about $1,543,000. Finally, Ieq Capital LLC bought a new position in Cameco in the 2nd quarter worth about $1,573,000. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Up 0.0%

NYSE CCJ opened at $102.55 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The company’s 50 day simple moving average is $96.21 and its 200 day simple moving average is $107.40. Cameco Corporation has a 12 month low of $72.75 and a 12 month high of $135.24. The company has a market capitalization of $44.66 billion, a P/E ratio of 173.81, a PEG ratio of 1.75 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities research analysts expect that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCJ. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Truist Financial increased their price objective on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

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.