Legacy Capital Group California Inc. Has $390,000 Stake in Cameco Corporation $CCJ

Legacy Capital Group California Inc. reduced its stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 61.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,266 shares of the basic materials company’s stock after selling 6,941 shares during the period. Legacy Capital Group California Inc.’s holdings in Cameco were worth $390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CCJ. TD Asset Management Inc increased its holdings in shares of Cameco by 116.7% in the third quarter. TD Asset Management Inc now owns 4,622,932 shares of the basic materials company’s stock valued at $388,068,000 after purchasing an additional 2,489,207 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Cameco by 43.3% in the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares during the last quarter. Mizuho Markets Cayman LP acquired a new position in shares of Cameco in the third quarter valued at $128,370,000. Victory Capital Management Inc. increased its holdings in shares of Cameco by 75.8% in the third quarter. Victory Capital Management Inc. now owns 2,489,424 shares of the basic materials company’s stock valued at $208,490,000 after purchasing an additional 1,073,111 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Cameco by 32.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,291,202 shares of the basic materials company’s stock valued at $360,063,000 after purchasing an additional 1,060,842 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Price Performance

CCJ stock opened at $123.68 on Friday. The company’s 50-day moving average price is $114.47 and its two-hundred day moving average price is $104.03. The firm has a market cap of $53.87 billion, a P/E ratio of 127.51 and a beta of 1.02. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $42.10 and a 12 month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, analysts anticipate that Cameco Corporation will post 1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CCJ has been the topic of several research reports. Royal Bank Of Canada upped their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $147.00 price objective on shares of Cameco in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce increased their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Weiss Ratings upgraded Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, William Blair began coverage on shares of Cameco in a research note on Monday. They issued an “outperform” rating on the stock. Twelve equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average price target of $150.40.

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.