Northwestern Mutual Wealth Management Co. Acquires New Shares in Cameco Corporation $CCJ

Northwestern Mutual Wealth Management Co. bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,609 shares of the basic materials company’s stock, valued at approximately $673,000.

Several other institutional investors have also recently bought and sold shares of the business. Mcguire Capital Advisors Inc. acquired a new stake in shares of Cameco in the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its position in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares in the last quarter. Sterling Capital Management LLC bought a new position in Cameco in the 1st quarter valued at approximately $30,000. Sunbelt Securities Inc. lifted its stake in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. boosted its position in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCJ. Bank of America lowered their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Barclays lowered their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Finally, Truist Financial lifted their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Trading Up 0.5%

Shares of NYSE CCJ opened at $107.51 on Thursday. The firm has a 50 day moving average price of $96.14 and a two-hundred day moving average price of $107.17. The stock has a market cap of $46.82 billion, a P/E ratio of 182.22, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05. Cameco Corporation has a 52-week low of $73.20 and a 52-week high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly 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). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter last year, the firm posted $0.71 EPS. Cameco’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS 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.