Covea Finance Has $68.17 Million Position in Cameco Corporation $CCJ

Covea Finance reduced its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 743,758 shares of the basic materials company’s stock after selling 73,922 shares during the period. Cameco accounts for approximately 2.2% of Covea Finance’s portfolio, making the stock its 7th largest position. Covea Finance owned 0.17% of Cameco worth $68,169,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CCJ. Financial Consulate Inc. purchased a new stake in Cameco in the 3rd quarter worth approximately $25,000. Strategic Advocates LLC purchased a new position in shares of Cameco during the third quarter valued at approximately $28,000. Armstrong Advisory Group Inc. increased its stake in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock valued at $29,000 after buying an additional 182 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Delos Wealth Advisors LLC lifted its stake in Cameco by 60.0% in the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ opened at $101.80 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. The stock has a market cap of $44.34 billion, a P/E ratio of 104.95 and a beta of 0.98. The business’s 50 day moving average price is $116.95 and its 200-day moving average price is $98.70. Cameco Corporation has a 52 week low of $35.00 and a 52 week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The business had revenue of $874.57 million for the quarter, compared to the consensus estimate of $782.13 million. During the same period in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CCJ shares. Weiss Ratings upgraded shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco to $202.00 in a research note on Monday, March 9th. Glj Research reiterated a “buy” rating and set a $171.20 price target (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Thirteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and an average target price of $150.40.

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.