Private Advisory Group LLC Takes $909,000 Position in Cameco Corporation $CCJ

Private Advisory Group LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,928 shares of the basic materials company’s stock, valued at approximately $909,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Temasek Holdings Private Ltd bought a new stake in shares of Cameco during the first quarter valued at approximately $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Cameco by 35.2% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after purchasing an additional 139,592 shares in the last quarter. WCM Investment Management LLC bought a new position in Cameco in the first quarter worth $35,342,000. Amova Asset Management Americas Inc. lifted its position in Cameco by 37.7% during the first quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock valued at $56,788,000 after buying an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock valued at $16,883,000 after buying an additional 78,609 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCJ shares. Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Truist Financial lifted their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays lowered their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Cameco Stock Down 0.0%

Shares of NYSE:CCJ opened at $97.74 on Friday. The stock has a fifty day simple moving average of $96.44 and a two-hundred day simple moving average of $108.52. The stock has a market capitalization of $42.57 billion, a price-to-earnings ratio of 165.66, a PEG ratio of 1.67 and a beta of 1.05. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period last year, the firm posted $0.71 earnings per share. The company’s revenue was down 6.8% compared to the same quarter last year. On average, research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

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.