Ieq Capital LLC Acquires Shares of 15,445 Cameco Corporation $CCJ

Ieq Capital LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 15,445 shares of the basic materials company’s stock, valued at approximately $1,573,000.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Cameco during the 4th quarter valued at $443,265,000. BlackRock Inc. purchased a new stake in shares of Cameco during the second quarter worth $381,091,000. Marshall Wace LLP raised its holdings in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Cameco during the second quarter valued at $163,449,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Cameco by 14,338.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Truist Financial increased their price objective on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Finally, Barclays decreased their target price 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. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Price Performance

Shares of NYSE:CCJ opened at $107.03 on Wednesday. The stock has a market capitalization of $46.61 billion, a P/E ratio of 181.40, a P/E/G ratio of 1.75 and a beta of 1.05. The business has a 50-day moving average of $96.10 and a two-hundred day moving average of $107.18. Cameco Corporation has a fifty-two week low of $73.20 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue was down 6.8% on a year-over-year basis. On average, equities research analysts predict 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.