Sheets Smith Wealth Management Buys New Stake in Cameco Co. (NYSE:CCJ)

Sheets Smith Wealth Management purchased a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,720 shares of the basic materials company’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Cameco by 21.6% during the third quarter. FMR LLC now owns 27,418,564 shares of the basic materials company’s stock worth $1,087,629,000 after buying an additional 4,865,085 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cameco by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 15,548,514 shares of the basic materials company’s stock valued at $616,343,000 after purchasing an additional 236,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cameco by 6.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,422,754 shares of the basic materials company’s stock worth $581,558,000 after purchasing an additional 869,404 shares during the period. Morgan Stanley boosted its position in Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after purchasing an additional 428,310 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Cameco by 74.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,730,858 shares of the basic materials company’s stock valued at $227,365,000 after purchasing an additional 2,442,190 shares during the period. 70.21% of the stock is owned by institutional investors and hedge funds.

Cameco Stock Performance

Shares of NYSE:CCJ opened at $51.98 on Tuesday. The business’s 50 day moving average price is $45.27 and its 200-day moving average price is $44.49. Cameco Co. has a 1 year low of $26.15 and a 1 year high of $52.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.42 and a quick ratio of 0.69. The firm has a market capitalization of $22.57 billion, a PE ratio of 130.08 and a beta of 0.92.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Thursday, February 8th. The basic materials company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.06). The business had revenue of $620.00 million for the quarter. Cameco had a return on equity of 4.60% and a net margin of 9.28%. As a group, equities research analysts expect that Cameco Co. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Cameco in a research note on Monday, April 1st. They set a “buy” rating and a $55.00 target price for the company. StockNews.com cut shares of Cameco from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.75.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.