NewEdge Wealth LLC Buys Shares of 12,783 Cameco Corporation $CCJ

NewEdge Wealth LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,783 shares of the basic materials company’s stock, valued at approximately $1,302,000.

A number of other large investors have also made changes to their positions in CCJ. Temasek Holdings Private Ltd purchased a new position in shares of Cameco during the 1st quarter worth $70,851,000. Sumitomo Mitsui Trust Group Inc. increased 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 purchasing an additional 139,592 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Cameco in the 1st quarter worth $35,342,000. Amova Asset Management Americas Inc. raised its holdings in Cameco by 37.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 522,864 shares of the basic materials company’s stock worth $56,788,000 after purchasing an additional 143,113 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in Cameco by 102.3% in the 1st quarter. Janus Henderson Group PLC now owns 155,427 shares of the basic materials company’s stock worth $16,883,000 after purchasing an additional 78,609 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CCJ has been the topic of several analyst reports. Bank of America lowered their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Finally, Barclays cut their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Fourteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Stock Up 7.3%

Shares of CCJ stock opened at $102.55 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a one year low of $72.75 and a one year high of $135.24. The company’s fifty day moving average price is $96.21 and its 200-day moving average price is $107.49. The company has a market capitalization of $44.66 billion, a price-to-earnings ratio of 173.81, a PEG ratio of 1.63 and a beta of 1.05.

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