Councilmark Asset Management LLC Buys Shares of 24,505 Cameco Corporation $CCJ

Councilmark Asset Management LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 24,505 shares of the basic materials company’s stock, valued at approximately $2,496,000. Cameco makes up about 1.3% of Councilmark Asset Management LLC’s holdings, making the stock its 20th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco in the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares during the period. Sterling Capital Management LLC bought a new stake in Cameco during the 1st quarter worth approximately $30,000. Sunbelt Securities Inc. increased its holdings in Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. lifted its stake in Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Cameco Price Performance

CCJ stock opened at $107.03 on Wednesday. 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 $73.20 and a one year high of $135.24. The stock has a market cap of $46.61 billion, a PE ratio of 181.40, a P/E/G ratio of 1.75 and a beta of 1.05. The firm has a 50 day simple moving average of $96.10 and a two-hundred day simple moving average of $107.18.

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

Wall Street Analyst Weigh In

CCJ has been the subject of a number of recent analyst reports. Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research report on Wednesday, May 6th. Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Truist Financial lifted their price objective on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada boosted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Finally, Barclays decreased their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Company 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.