Royal London Asset Management Ltd. Has $28.03 Million Holdings in Cameco Corporation $CCJ

Royal London Asset Management Ltd. grew its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 74.6% in the 2nd quarter, Holdings Channel reports. The fund owned 275,141 shares of the basic materials company’s stock after purchasing an additional 117,592 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cameco were worth $28,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CCJ. Clearstead Advisors LLC increased its position in Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after acquiring an additional 85 shares during the period. HB Wealth Management LLC boosted its holdings in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares during the period. Groupama Asset Managment boosted its holdings in Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock valued at $176,000 after purchasing an additional 108 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Cameco by 3.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after purchasing an additional 114 shares during the period. Finally, Midwest Trust Co grew its position in Cameco by 4.8% in the 4th quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock worth $231,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Price Performance

Cameco stock opened at $100.07 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The company has a market capitalization of $43.58 billion, a PE ratio of 169.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. Cameco Corporation has a one year low of $73.20 and a one year high of $135.24. The business has a 50 day simple moving average of $96.00 and a 200 day simple moving average of $107.07.

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 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 company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same quarter last year, the company earned $0.71 earnings per share. The business’s revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCJ. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen cut shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 target price on shares of Cameco in a research report on Monday, June 15th. Royal Bank Of Canada boosted their price target on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Thirteen equities 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, the company has an average rating of “Moderate Buy” and a consensus price target of $145.68.

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.