Asset One Wealth Management LLC Buys Shares of 24,968 Cameco Corporation $CCJ

Asset One Wealth Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,968 shares of the basic materials company’s stock, valued at approximately $2,284,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Clearstead Advisors LLC lifted 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 valued at $929,000 after acquiring an additional 85 shares during the last quarter. Legacy Bridge LLC lifted its stake in 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 acquiring an additional 100 shares during the last quarter. S.A. Mason LLC lifted its stake in 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 acquiring an additional 111 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 112 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in 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 acquiring an additional 114 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Canadian Imperial Bank of Commerce lifted their target price on shares of Cameco to $202.00 in a research note on Monday, March 9th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. William Blair assumed coverage on shares of Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Zacks Research cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.42.

Cameco Price Performance

Shares of Cameco stock opened at $105.70 on Thursday. The firm has a fifty day simple moving average of $112.82 and a 200-day simple moving average of $109.66. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 1-year low of $67.60 and a 1-year high of $135.24. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 97.87, a PEG ratio of 1.97 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the previous year, the company earned $0.16 earnings per share. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Cameco Corporation will post 1.21 earnings per share for the current year.

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.