Deepwater Asset Management LLC Takes Position in Cameco Corporation $CCJ

Deepwater Asset Management LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 64,357 shares of the basic materials company’s stock, valued at approximately $6,555,000. Cameco comprises about 3.0% of Deepwater Asset Management LLC’s holdings, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of CCJ. Temasek Holdings Private Ltd purchased a new stake in Cameco in the 1st quarter valued at about $70,851,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after buying an additional 139,592 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Cameco in the first quarter valued at approximately $35,342,000. Amova Asset Management Americas Inc. grew its holdings in shares of Cameco by 37.7% in 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 acquiring an additional 143,113 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of 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 acquiring an additional 78,609 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CCJ. Royal Bank Of Canada boosted their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Truist Financial raised their target price on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Wall Street Zen downgraded shares of Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Barclays reduced 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. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Trading Down 2.6%

Shares of CCJ opened at $95.97 on Wednesday. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The stock has a market cap of $41.80 billion, a PE ratio of 162.66, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $96.19 and its 200-day moving average price is $107.97.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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 firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same quarter last year, the business posted $0.71 earnings per share. Cameco’s revenue was down 6.8% compared to the same quarter last year. On average, equities analysts forecast 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.