Myriad Asset Management Advisors LLC Makes New $3.33 Million Investment in Cameco Corporation $CCJ

Myriad Asset Management Advisors LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,434 shares of the basic materials company’s stock, valued at approximately $3,333,000. Cameco comprises approximately 1.0% of Myriad Asset Management Advisors LLC’s holdings, making the stock its 26th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new position in Cameco during the fourth quarter worth $25,000. Founders Capital Management acquired a new position in Cameco during the fourth quarter worth $27,000. Strategic Advocates LLC acquired a new position in Cameco during the third quarter worth $28,000. Sunbelt Securities Inc. boosted its stake in Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after buying an additional 325 shares during the last quarter. Finally, Delos Wealth Advisors LLC boosted its stake in Cameco by 60.0% during the third quarter. Delos Wealth Advisors LLC now owns 400 shares of the basic materials company’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of Cameco stock opened at $94.94 on Thursday. Cameco Corporation has a 52 week low of $64.19 and a 52 week high of $135.24. The business’s fifty day simple moving average is $113.52 and its 200-day simple moving average is $109.01. The firm has a market cap of $41.35 billion, a PE ratio of 87.91, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.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 company posted $0.16 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Cameco Corporation will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent research reports. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. William Blair began coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating on the stock. Barclays began coverage on Cameco in a research note on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.62.

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.