Financial Enhancement Group LLC Makes New Investment in Cameco Corporation $CCJ

Financial Enhancement Group LLC bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,300 shares of the basic materials company’s stock, valued at approximately $2,343,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC grew its stake in shares of Cameco by 3.1% during the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 107 shares during the period. Groupama Asset Managment increased its position in shares of Cameco by 5.9% during the fourth quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 108 shares in the last quarter. Syon Capital LLC raised its stake in shares of Cameco by 1.5% in the 4th quarter. Syon Capital LLC now owns 8,246 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 125 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Cameco by 0.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company’s stock valued at $1,540,000 after acquiring an additional 125 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in Cameco by 4.1% during the first quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company’s stock worth $371,000 after purchasing an additional 134 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on Cameco in a research report on Thursday, September 3rd. They issued a “buy” rating and a $138.00 price objective for the company. Barclays reduced their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. 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. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.68.

Cameco Trading Down 2.1%

Shares of NYSE:CCJ traded down $1.89 during trading on Thursday, reaching $87.19. The stock had a trading volume of 3,429,852 shares, compared to its average volume of 3,535,929. Cameco Corporation has a 52 week low of $77.70 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. The firm’s fifty day moving average is $95.09 and its 200 day moving average is $102.48. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 147.77, a P/E/G ratio of 1.89 and a beta of 1.17.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same quarter in the previous year, the firm earned $0.71 EPS. The firm’s revenue was down 6.8% on a year-over-year basis. As a group, equities analysts forecast that Cameco Corporation will post 1.07 EPS for the current fiscal year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. It is one of the world’s major suppliers of uranium, producing uranium concentrates used to generate nuclear power. The company’s operations span uranium exploration, mining, milling, refining, conversion and fuel manufacturing.

Cameco operates or has interests in uranium assets in Canada, the United States and Kazakhstan. Its Canadian portfolio includes the McArthur River and Cigar Lake mines and the Key Lake and McClean Lake milling operations in northern Saskatchewan.