Allianz Asset Management GmbH Acquires 106,987 Shares of Cameco Corporation $CCJ

Allianz Asset Management GmbH increased its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 278.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,429 shares of the basic materials company’s stock after purchasing an additional 106,987 shares during the quarter. Allianz Asset Management GmbH’s holdings in Cameco were worth $12,208,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCJ. Norges Bank bought a new stake in shares of Cameco in the 2nd quarter valued at about $341,736,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of 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 worth $524,988,000 after acquiring an additional 2,071,373 shares during the period. Acadian Asset Management LLC boosted its holdings in Cameco by 1,428.6% in the second quarter. Acadian Asset Management LLC now owns 978,300 shares of the basic materials company’s stock valued at $72,505,000 after acquiring an additional 914,300 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Cameco in the second quarter valued at approximately $66,781,000. Finally, Fullerton Fund Management Co Ltd. increased its position in Cameco by 3,586.0% during the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 762,380 shares of the basic materials company’s stock valued at $56,591,000 after purchasing an additional 741,697 shares during the period. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

Shares of NYSE CCJ opened at $113.66 on Monday. The firm has a market capitalization of $49.49 billion, a P/E ratio of 132.16 and a beta of 0.99. The firm’s 50-day moving average price is $103.70 and its 200-day moving average price is $90.69. The company has a current ratio of 2.99, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $135.24.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Cameco in a research report on Monday, December 29th. National Bankshares restated an “outperform” rating on shares of Cameco in a report on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Royal Bank Of Canada lowered their price objective on Cameco from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, November 13th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $131.00 target price on shares of Cameco in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.39.

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.