Korea Investment CORP Invests $95.83 Million in Cameco Corporation $CCJ

Korea Investment CORP purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 940,555 shares of the basic materials company’s stock, valued at approximately $95,835,000.

Other large investors also recently bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the period. HB Wealth Management LLC boosted its position in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares during the last quarter. S.A. Mason LLC increased its position 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 buying an additional 111 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its position in Cameco by 3.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after buying an additional 114 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Royal Bank Of Canada boosted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays dropped their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Cameco currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Stock Up 7.3%

Cameco stock opened at $102.55 on Friday. Cameco Corporation has a 12 month low of $72.75 and a 12 month high of $135.24. The stock has a fifty day simple moving average of $96.21 and a two-hundred day simple moving average of $107.49. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The firm has a market cap of $44.66 billion, a price-to-earnings ratio of 173.81, a PEG ratio of 1.63 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts predict 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.