BOCHK Asset Management Ltd Invests $8.81 Million in Cameco Co. (NYSE:CCJ)

by · The Markets Daily

BOCHK Asset Management Ltd purchased a new stake in shares of Cameco Co. (NYSE:CCJ – Free Report) (TSE:CCO) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 184,400 shares of the basic materials company’s stock, valued at approximately $8,807,000. Cameco makes up 2.6% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Cameco by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 15,911,954 shares of the basic materials company’s stock worth $689,306,000 after acquiring an additional 200,871 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cameco by 2.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after buying an additional 288,400 shares in the last quarter. Capital World Investors boosted its stake in shares of Cameco by 1.6% in the 1st quarter. Capital World Investors now owns 13,708,235 shares of the basic materials company’s stock worth $593,524,000 after buying an additional 215,741 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cameco by 3.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,514,500 shares of the basic materials company’s stock valued at $282,210,000 after acquiring an additional 202,157 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Cameco by 6.8% during the second quarter. William Blair Investment Management LLC now owns 4,160,009 shares of the basic materials company’s stock valued at $204,672,000 after acquiring an additional 265,196 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of NYSE CCJ traded down $0.44 during mid-day trading on Thursday, hitting $53.64. The company had a trading volume of 2,756,413 shares, compared to its average volume of 4,416,372. The company has a current ratio of 3.22, a quick ratio of 1.48 and a debt-to-equity ratio of 0.23. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 138.18 and a beta of 0.90. The stock’s 50-day moving average price is $45.43 and its 200-day moving average price is $47.81.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). Cameco had a return on equity of 5.63% and a net margin of 9.72%. The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. During the same period last year, the company posted ($0.01) EPS. The business’s revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts forecast that Cameco Co. will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

CCJ has been the subject of several research reports. Bank of America increased their price target on shares of Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Scotiabank dropped their price objective on Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Glj Research reissued a “buy” rating and set a $63.73 price objective on shares of Cameco in a report on Wednesday, August 14th. Janney Montgomery Scott raised Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Finally, National Bank Financial raised Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Cameco presently has a consensus rating of “Buy” and an average target price of $66.56.

Check Out Our Latest Stock Analysis on CCJ

Cameco Profile

(Free Report)

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.

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