Cameco Corporation $CCJ Position Boosted by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 29.2% during the 2nd quarter, Holdings Channel reports. The fund owned 216,241 shares of the basic materials company’s stock after acquiring an additional 48,919 shares during the quarter. NewEdge Advisors LLC’s holdings in Cameco were worth $22,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bison Wealth LLC raised its stake in shares of Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares in the last quarter. AQR Capital Management LLC grew its position in Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after buying an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Cameco in the 2nd quarter worth approximately $14,252,000. Institutional investors own 70.21% of the company’s stock.

Cameco Trading Down 3.0%

Shares of NYSE CCJ opened at $97.41 on Friday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12 month low of $77.53 and a 12 month high of $135.24. The company has a market cap of $42.43 billion, a price-to-earnings ratio of 165.11, a P/E/G ratio of 1.72 and a beta of 1.06. The business has a fifty day simple moving average of $95.29 and a 200-day simple moving average of $105.88.

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

Analyst Ratings Changes

A number of research analysts recently commented on CCJ shares. Weiss Ratings lowered shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada lifted their price target on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Wall Street Zen raised Cameco from a “sell” rating to a “hold” rating in a report on Saturday, September 5th. Truist Financial upped their price target on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Barclays lowered their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Thirteen 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world’s largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.