Main Street Research LLC Purchases Shares of 364,392 Cameco Corporation $CCJ

Main Street Research LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 364,392 shares of the basic materials company’s stock, valued at approximately $30,558,000.

A number of other hedge funds have also modified their holdings of CCJ. Financial Consulate Inc. bought a new stake in Cameco in the 3rd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. grew its stake in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 182 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Cameco during the 2nd quarter worth approximately $35,000. Cullen Frost Bankers Inc. bought a new stake in shares of Cameco in the third quarter worth $37,000. Finally, Tobam lifted its position in shares of Cameco by 389.1% in the third quarter. Tobam now owns 450 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 358 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCJ has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce raised their target price on shares of Cameco to $202.00 in a research report on Monday, March 9th. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Raymond James Financial restated an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Finally, Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Cameco Trading Down 6.4%

NYSE CCJ opened at $107.92 on Friday. Cameco Corporation has a 12 month low of $35.00 and a 12 month high of $135.24. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $116.55 and a 200-day moving average of $97.63. The company has a market cap of $47.00 billion, a PE ratio of 111.26 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. 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 earned $0.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.