Moran Wealth Management LLC Acquires 5,553 Shares of Cameco Corporation $CCJ

Moran Wealth Management LLC increased its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 15.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 40,994 shares of the basic materials company’s stock after acquiring an additional 5,553 shares during the period. Moran Wealth Management LLC’s holdings in Cameco were worth $4,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Cameco in the fourth quarter worth about $443,265,000. Marshall Wace LLP boosted its holdings in Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock valued at $160,343,000 after purchasing an additional 1,729,454 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Cameco by 43.3% during the third quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock valued at $456,530,000 after purchasing an additional 1,644,061 shares in the last quarter. Mizuho Markets Cayman LP bought a new stake in shares of Cameco in the 3rd quarter valued at approximately $128,370,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 valued at $101,744,000 after purchasing an additional 1,104,378 shares during the period. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several analyst reports. Scotiabank restated an “outperform” rating and set a $175.00 target price on shares of Cameco in a research report on Wednesday, May 6th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. William Blair started coverage on Cameco in a research report on Monday, April 20th. They issued an “outperform” rating on the stock. Royal Bank Of Canada increased their price objective on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.92.

Cameco Price Performance

Shares of CCJ stock opened at $96.36 on Friday. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. The firm’s 50 day moving average is $109.26 and its 200-day moving average is $110.53. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 89.22, a PEG ratio of 1.76 and a beta of 1.02. The company has a current ratio of 3.08, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The business had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Sell-side analysts forecast that Cameco Corporation will post 1.21 EPS for the current fiscal year.

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.