Dayah Capital LLC Makes New Investment in Cameco Corporation $CCJ

Dayah Capital LLC purchased a new position 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 and Exchange Commission. The fund purchased 24,523 shares of the basic materials company’s stock, valued at approximately $2,498,000. Cameco accounts for about 0.8% of Dayah Capital LLC’s portfolio, making the stock its 15th largest holding.

Other hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC acquired a new stake in shares of Cameco during the 1st quarter worth approximately $30,000. Brown Lisle Cummings Inc. lifted its holdings in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Cameco in the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its position in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CCJ. Bank of America reduced their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their price objective on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Trading Up 4.7%

Shares of CCJ stock opened at $107.03 on Wednesday. Cameco Corporation has a fifty-two week low of $73.20 and a fifty-two week high of $135.24. The company has a 50 day moving average price of $96.10 and a 200 day moving average price of $107.18. The stock has a market capitalization of $46.61 billion, a P/E ratio of 181.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

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