Myriad Asset Management Advisors LLC Takes Position in Cameco Corporation $CCJ

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

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Clearstead Advisors LLC increased its position in shares of Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock valued at $929,000 after buying an additional 85 shares in the last quarter. Legacy Bridge LLC increased its position in shares of Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after buying an additional 100 shares in the last quarter. S.A. Mason LLC increased its position in shares of Cameco by 4.8% in the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock valued at $223,000 after buying an additional 111 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cameco by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock valued at $62,000 after buying an additional 112 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its position in shares of Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock valued at $314,000 after buying an additional 114 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. William Blair began coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Finally, Canadian Imperial Bank of Commerce lifted their price target on Cameco to $202.00 in a research note on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.62.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $94.94 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09. The business’s 50 day moving average price is $113.52 and its 200-day moving average price is $109.01. The firm has a market capitalization of $41.35 billion, a PE ratio of 87.91, a P/E/G ratio of 1.73 and a beta of 0.99. Cameco Corporation has a 1 year low of $64.19 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $607.49 million for the quarter, compared to analyst estimates of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that Cameco Corporation will post 1.31 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.