Summit Financial LLC Increases Stake in Cameco Corporation $CCJ

Summit Financial LLC increased its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 6.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,613 shares of the basic materials company’s stock after buying an additional 7,230 shares during the period. Summit Financial LLC’s holdings in Cameco were worth $11,767,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CCJ. Nisa Investment Advisors LLC purchased a new position in shares of Cameco during the fourth quarter valued at $25,000. Founders Capital Management purchased a new position in shares of Cameco during the fourth quarter valued at $27,000. Strategic Advocates LLC purchased a new position in shares of Cameco during the third quarter valued at $28,000. Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after buying an additional 325 shares during the period. Finally, Delos Wealth Advisors LLC increased its stake in shares of Cameco by 60.0% during the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock valued at $34,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of NYSE CCJ opened at $100.94 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The company has a market cap of $43.96 billion, a PE ratio of 93.47, a P/E/G ratio of 1.68 and a beta of 0.99. The business has a 50-day simple moving average of $113.12 and a two-hundred day simple moving average of $109.09. Cameco Corporation has a fifty-two week low of $64.84 and a fifty-two week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CCJ shares. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Barclays started coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective on the stock. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Finally, William Blair started coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

Cameco 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.