Dayah Capital LLC Invests $2.50 Million in Cameco Corporation $CCJ

Dayah Capital LLC bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,523 shares of the basic materials company’s stock, valued at approximately $2,498,000. Cameco accounts for about 0.8% of Dayah Capital LLC’s holdings, making the stock its 15th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in CCJ. Vanguard Group Inc. grew its holdings in Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock worth $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Capital World Investors lifted its position in shares of Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Cameco by 15.6% during the 4th quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares during the last quarter. Morgan Stanley grew its stake in shares of Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after purchasing an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Cameco during the fourth quarter worth $443,265,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CCJ. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Wall Street Zen downgraded Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Finally, Truist Financial boosted their target price on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Fourteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Stock Up 4.7%

Shares of NYSE CCJ opened at $107.03 on Wednesday. The stock has a market cap of $46.61 billion, a PE ratio of 181.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. 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 52-week low of $73.20 and a 52-week high of $135.24. The business has a 50-day moving average price of $96.10 and a 200 day moving average price of $107.18.

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

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.