FirstWave Capital Management LLC Takes Position in Cameco Corporation $CCJ

FirstWave Capital Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, HoldingsChannel.com reports. The fund bought 9,593 shares of the basic materials company’s stock, valued at approximately $977,000.

Other institutional investors also recently made changes to their positions in the company. Clearstead Advisors LLC grew its position in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after buying an additional 107 shares during the last quarter. Groupama Asset Managment boosted its position in shares of Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares during the period. Kingsview Wealth Management LLC raised its stake in Cameco by 3.4% during the 4th 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 in the last quarter. Finally, Midwest Trust Co raised its stake in Cameco by 4.8% during the 4th quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company’s stock valued at $231,000 after acquiring an additional 116 shares in the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

NYSE:CCJ opened at $100.81 on Friday. Cameco Corporation has a twelve month low of $74.63 and a twelve month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $95.25 and a 200-day moving average of $106.41. The firm has a market cap of $43.91 billion, a price-to-earnings ratio of 170.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06.

Cameco (NYSE:CCJ) (TSE:CCO) last released 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). The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CCJ shares. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research note on Monday, June 15th. Bank of America lowered their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Truist Financial raised their price objective on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.09.

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.