Permanens Capital L.P. Invests $17.50 Million in Cameco Corporation $CCJ

Permanens Capital L.P. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 171,804 shares of the basic materials company’s stock, valued at approximately $17,500,000. Cameco accounts for approximately 1.8% of Permanens Capital L.P.’s holdings, making the stock its 13th largest holding.

A number of other hedge funds have also bought and sold shares of the company. Clearstead Advisors LLC grew its position in shares of Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after acquiring an additional 85 shares in the last quarter. HB Wealth Management LLC lifted its stake in Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment boosted its holdings in Cameco by 5.9% in the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 108 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 114 shares during the period. Finally, Midwest Trust Co increased its stake in Cameco by 4.8% during the fourth quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock valued at $231,000 after purchasing an additional 116 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CCJ. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Truist Financial boosted their price objective on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Trading Up 0.5%

Shares of NYSE CCJ opened at $107.51 on Thursday. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. The company has a market cap of $46.82 billion, a price-to-earnings ratio of 182.22, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $96.14 and a 200-day simple moving average of $107.17.

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

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.