Renaissance Investment Group LLC Boosts Holdings in Cameco Corporation $CCJ

Renaissance Investment Group LLC grew its position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,238 shares of the basic materials company’s stock after purchasing an additional 8,444 shares during the quarter. Renaissance Investment Group LLC’s holdings in Cameco were worth $5,237,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CCJ. Vanguard Group Inc. lifted its holdings in shares of Cameco by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,801,142 shares of the basic materials company’s stock valued at $1,493,978,000 after purchasing an additional 235,613 shares during the last quarter. Capital World Investors increased its position in Cameco by 0.8% during the 3rd quarter. Capital World Investors now owns 13,503,924 shares of the basic materials company’s stock valued at $1,133,147,000 after buying an additional 106,872 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cameco by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,973,799 shares of the basic materials company’s stock valued at $1,089,080,000 after buying an additional 85,762 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Cameco by 41.4% in the second 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. Finally, Van ECK Associates Corp raised its stake in 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 last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCJ has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $131.00 price target on shares of Cameco in a research note on Wednesday, February 4th. Glj Research reissued a “buy” rating and set a $171.20 target price (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Sanford C. Bernstein reissued an “outperform” rating and set a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Finally, Royal Bank Of Canada raised their target price on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.40.

Cameco Stock Performance

Shares of NYSE CCJ opened at $106.48 on Friday. The company has a 50 day simple moving average of $117.07 and a two-hundred day simple moving average of $98.53. The stock has a market cap of $46.38 billion, a price-to-earnings ratio of 109.78 and a beta of 0.98. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The firm had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, analysts predict that Cameco Corporation will post 1.27 earnings per share for the current 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.