Portland Investment Counsel Inc. Acquires New Holdings in Cameco Corporation $CCJ

Portland Investment Counsel Inc. bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 32,500 shares of the basic materials company’s stock, valued at approximately $3,313,000. Cameco makes up 0.9% of Portland Investment Counsel Inc.’s investment portfolio, making the stock its 14th biggest holding.

Several other hedge funds have also recently bought and sold shares of CCJ. Temasek Holdings Private Ltd acquired a new position in Cameco in the 1st quarter worth $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock valued at $58,187,000 after purchasing an additional 139,592 shares during the period. WCM Investment Management LLC acquired a new stake in shares of Cameco in the 1st quarter valued at about $35,342,000. Amova Asset Management Americas Inc. lifted its holdings in shares of Cameco by 37.7% in the first quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock valued at $56,788,000 after purchasing an additional 143,113 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Cameco by 102.3% in the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock valued at $16,883,000 after purchasing an additional 78,609 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Up 0.0%

Shares of CCJ stock opened at $102.55 on Monday. The firm’s fifty day moving average price is $96.21 and its two-hundred day moving average price is $107.40. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 1 year low of $72.75 and a 1 year high of $135.24. The firm 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 posted its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS 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 analyst estimates 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 prior year, the company earned $0.71 earnings per share. On average, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCJ shares. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada boosted their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Barclays reduced their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Finally, Truist Financial raised their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

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.