Private Advisory Group LLC Makes New Investment in Cameco Corporation $CCJ

Private Advisory Group LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, HoldingsChannel reports. The fund bought 8,928 shares of the basic materials company’s stock, valued at approximately $909,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Cameco during the fourth quarter valued at approximately $443,265,000. Marshall Wace LLP raised its holdings in Cameco by 7,481.3% in the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock worth $101,744,000 after acquiring an additional 1,104,378 shares during the last quarter. Man Group plc lifted its position in Cameco by 126.3% in the 3rd quarter. Man Group plc now owns 1,698,728 shares of the basic materials company’s stock valued at $142,455,000 after acquiring an additional 948,068 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in Cameco by 1,339.8% in the 4th quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company’s stock valued at $88,247,000 after acquiring an additional 897,558 shares in the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Down 0.0%

Shares of Cameco stock opened at $97.74 on Friday. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $96.44 and its 200 day moving average is $108.52. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 165.66, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its 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%.The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.71 EPS. Research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Barclays dropped their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Citigroup reissued a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Fourteen 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Cameco 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.