Asset One Wealth Management LLC Buys New Shares in Cameco Corporation $CCJ

Asset One Wealth Management LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 24,968 shares of the basic materials company’s stock, valued at approximately $2,284,000.

Several other large investors have also recently bought and sold shares of CCJ. Norges Bank acquired a new position in Cameco during the 4th quarter valued at $443,265,000. TD Asset Management Inc raised its stake in Cameco by 116.7% during the 3rd 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. Marshall Wace LLP raised its stake in Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares during the last quarter. Van ECK Associates Corp raised its stake in Cameco by 43.3% during the 3rd 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. Finally, Mizuho Markets Cayman LP bought a new stake in Cameco in the 3rd quarter valued at $128,370,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 2.0%

Shares of Cameco stock opened at $105.70 on Thursday. The company’s fifty day moving average price is $112.82 and its two-hundred day moving average price is $109.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. Cameco Corporation has a 52-week low of $67.60 and a 52-week high of $135.24. The firm has a market capitalization of $46.04 billion, a PE ratio of 97.87, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Cameco Corporation will post 1.21 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CCJ shares. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday. Scotiabank reissued an “outperform” rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Barclays started coverage on shares of Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. Finally, William Blair started coverage on shares of Cameco in a report on Monday, April 20th. They issued an “outperform” rating on the stock. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.42.

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.