Assenagon Asset Management S.A. Buys 1,032 Shares of Cameco Corporation (NYSE:CCJ)

Assenagon Asset Management S.A. increased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,410 shares of the basic materials company’s stock after acquiring an additional 1,032 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cameco were worth $717,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Cameco in the fourth quarter valued at about $4,647,000. Vontobel Holding Ltd. raised its position in shares of Cameco by 10.4% during the fourth quarter. Vontobel Holding Ltd. now owns 15,735 shares of the basic materials company’s stock worth $808,000 after acquiring an additional 1,485 shares during the last quarter. Principal Securities Inc. increased its holdings in Cameco by 132.9% in the fourth quarter. Principal Securities Inc. now owns 1,742 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 994 shares in the last quarter. Allworth Financial LP increased its holdings in Cameco by 192.7% in the fourth quarter. Allworth Financial LP now owns 3,480 shares of the basic materials company’s stock worth $196,000 after purchasing an additional 2,291 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Cameco during the fourth quarter valued at approximately $25,000. 70.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCJ. Stifel Canada raised Cameco to a “strong-buy” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group boosted their price objective on Cameco from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 target price on Cameco and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. UBS Group reiterated a “buy” rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $90.00 price objective on shares of Cameco in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $75.63.

Cameco Trading Up 0.6%

CCJ opened at $69.67 on Thursday. The business has a 50 day simple moving average of $52.55 and a two-hundred day simple moving average of $49.79. The firm has a market capitalization of $30.33 billion, a price-to-earnings ratio of 174.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.70 and a quick ratio of 1.26. Cameco Corporation has a one year low of $35.00 and a one year high of $71.31.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm had revenue of $549.58 million during the quarter, compared to the consensus estimate of $890.07 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue was up 24.4% on a year-over-year basis. Analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.