Dockside LLC Makes New Investment in Cameco Corporation $CCJ

Dockside LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 55,948 shares of the basic materials company’s stock, valued at approximately $5,699,000. Cameco comprises approximately 1.3% of Dockside LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Cameco by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors lifted its position in shares of Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after buying an additional 41,430 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after buying an additional 849,188 shares during the last quarter. Morgan Stanley boosted its stake in shares of Cameco by 7.0% during the 4th quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after acquiring an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Cameco during the 4th quarter valued at about $443,265,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCJ. Bank of America reduced their price objective on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Truist Financial raised their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Finally, Royal Bank Of Canada upped 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. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Trading Down 0.0%

Shares of NYSE CCJ opened at $97.74 on Friday. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The company has a market cap of $42.57 billion, a PE ratio of 165.66, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $96.44 and a two-hundred day moving average of $108.52.

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