Hamilton Capital LLC Acquires New Holdings in Cameco Corporation $CCJ

Hamilton Capital LLC acquired a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,565 shares of the basic materials company’s stock, valued at approximately $567,000.

Several other large investors have also recently bought and sold shares of CCJ. Temasek Holdings Private Ltd acquired a new position in shares of Cameco during the 1st quarter valued at $70,851,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Cameco by 35.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,743 shares of the basic materials company’s stock worth $58,187,000 after buying an additional 139,592 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Cameco in the first quarter valued at $35,342,000. Amova Asset Management Americas Inc. lifted its holdings in shares of Cameco by 37.7% in the first quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock valued at $56,788,000 after buying an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Cameco by 102.3% during the first quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock valued at $16,883,000 after buying an additional 78,609 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Truist Financial upped their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays lowered their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.68.

Cameco Stock Performance

Shares of NYSE CCJ opened at $106.40 on Friday. The stock’s fifty day simple moving average is $96.13 and its 200 day simple moving average is $107.12. The stock has a market capitalization of $46.34 billion, a price-to-earnings ratio of 180.34, a PEG ratio of 1.84 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. Cameco Corporation has a 52-week low of $73.20 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 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 company had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts forecast 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.