85,000 Shares in Cameco Corporation $CCJ Bought by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 85,000 shares of the basic materials company’s stock, valued at approximately $9,232,000.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Advisors LLC raised its stake in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares in the last quarter. Legacy Bridge LLC boosted its position in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Cameco by 3.1% during the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after acquiring an additional 107 shares during the period. Groupama Asset Managment grew its holdings in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 108 shares during the period. Finally, S.A. Mason LLC grew its holdings in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares during the period. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CCJ. Canadian Imperial Bank of Commerce lifted their price target on Cameco to $202.00 in a research report on Monday, March 9th. Royal Bank Of Canada increased their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Finally, Barclays initiated coverage on shares of Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $148.92.

Cameco Stock Performance

Shares of CCJ stock opened at $96.36 on Friday. The company has a market capitalization of $41.97 billion, a price-to-earnings ratio of 89.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. Cameco Corporation has a one year low of $68.96 and a one year high of $135.24. The company’s 50-day moving average is $109.26 and its 200 day moving average is $110.53.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) 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 analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. Sell-side analysts expect that Cameco Corporation will post 1.21 EPS for the current fiscal 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.