WCM Investment Management LLC Takes Position in Cameco Corporation $CCJ

WCM Investment Management LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 1st quarter, Holdings Channel.com reports. The fund purchased 343,656 shares of the basic materials company’s stock, valued at approximately $35,342,000.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in Cameco during the 4th quarter valued at approximately $25,000. Founders Capital Management bought a new position in shares of Cameco in the 4th quarter worth about $27,000. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco in the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Finally, Sterling Capital Management LLC bought a new stake in shares of Cameco during the 1st quarter valued at about $30,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 0.0%

Shares of CCJ stock opened at $85.61 on Monday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a market cap of $37.28 billion, a P/E ratio of 79.27, a PEG ratio of 1.40 and a beta of 1.02. The company has a 50 day moving average of $103.83 and a 200-day moving average of $110.80. Cameco Corporation has a 12-month low of $68.96 and a 12-month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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 company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. Sell-side analysts anticipate that Cameco Corporation will post 1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Truist Financial initiated coverage on shares of Cameco in a research report on Monday, July 13th. They set a “buy” rating and a $129.00 price objective for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, TD Securities downgraded shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $146.18.

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.