Philadelphia Financial Management of San Francisco LLC Takes $4.61 Billion Position in Cameco Corporation $CCJ

Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 45,300 shares of the basic materials company’s stock, valued at approximately $4,614,258,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Philadelphia Investment Partners LLC bought a new stake in Cameco during the 2nd quarter valued at approximately $146,000. Ausdal Financial Partners Inc. bought a new stake in shares of Cameco in the second quarter valued at about $510,000. Bank of America Corp DE acquired a new stake in shares of Cameco during the 2nd quarter worth approximately $735,498,000. Freestone Grove Partners LP acquired a new stake in Cameco during the second quarter worth $14,593,000. Finally, Caisse de depot et placement du Quebec bought a new stake in Cameco in the second quarter valued at about $75,573,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CCJ shares. Scotiabank restated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Bank of America dropped their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Trading Up 0.5%

Shares of NYSE:CCJ opened at $107.51 on Thursday. The firm has a market cap of $46.82 billion, a price-to-earnings ratio of 182.22, a PEG ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. The company’s fifty day simple moving average is $96.14 and its 200 day simple moving average is $107.17.

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

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.