Swiss Life Asset Management Ltd Acquires 9,435 Shares of Cameco Corporation $CCJ

Swiss Life Asset Management Ltd lifted its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 15.9% during the third quarter, Holdings Channel.com reports. The firm owned 68,695 shares of the basic materials company’s stock after acquiring an additional 9,435 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Cameco were worth $5,773,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CCJ. Norges Bank bought a new position in Cameco during the 2nd quarter worth $341,736,000. TD Asset Management Inc lifted its holdings in Cameco by 116.7% during the 3rd quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock worth $388,068,000 after buying an additional 2,489,207 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Cameco by 41.4% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 7,076,815 shares of the basic materials company’s stock valued at $524,988,000 after buying an additional 2,071,373 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after buying an additional 1,644,061 shares during the period. Finally, Mizuho Markets Cayman LP acquired a new stake in shares of Cameco in the third quarter valued at about $128,370,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 4.5%

Shares of NYSE:CCJ opened at $101.80 on Friday. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 104.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68. The business’s 50-day moving average is $116.95 and its 200-day moving average is $98.86. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results 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 business had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CCJ shares. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday, February 4th. Sanford C. Bernstein restated an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce boosted their price target on shares of Cameco to $202.00 in a research report on Monday, March 9th. Finally, Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and an average price target of $150.40.

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.