Mitsubishi UFJ Asset Management UK Ltd. Buys New Position in Cameco Corporation $CCJ

Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,000 shares of the basic materials company’s stock, valued at approximately $2,196,000. Cameco accounts for 1.1% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Bridge LLC boosted its holdings in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares during the period. S.A. Mason LLC boosted its holdings in Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after acquiring an additional 111 shares during the period. GAMMA Investing LLC boosted its holdings in Cameco by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 112 shares during the period. Midwest Trust Co boosted its holdings in Cameco by 4.8% during the 4th quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 116 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Cameco by 3.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,938 shares of the basic materials company’s stock valued at $330,000 after acquiring an additional 120 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Performance

Shares of CCJ opened at $103.53 on Wednesday. The stock has a 50-day simple moving average of $113.95 and a 200-day simple moving average of $107.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock has a market capitalization of $45.09 billion, a PE ratio of 95.86, a PEG ratio of 1.77 and a beta of 1.04. Cameco Corporation has a 1 year low of $51.46 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.16 EPS. On average, analysts predict that Cameco Corporation will post 1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce lifted their price objective on Cameco to $202.00 in a research note on Monday, March 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Weiss Ratings cut Cameco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a research note on Thursday, February 5th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $153.13.

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.