Montgomery Investment Management Inc. bought a new position in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,252 shares of the basic materials company’s stock, valued at approximately $1,929,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Viewpoint Investment Partners Corp grew its position in Cameco by 20.6% in the third quarter. Viewpoint Investment Partners Corp now owns 8,593 shares of the basic materials company’s stock valued at $745,000 after acquiring an additional 1,466 shares during the period. Apollon Wealth Management LLC raised its stake in Cameco by 8.3% during the third quarter. Apollon Wealth Management LLC now owns 10,103 shares of the basic materials company’s stock worth $876,000 after acquiring an additional 773 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in Cameco by 89.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 4,341 shares of the basic materials company’s stock worth $376,000 after acquiring an additional 2,047 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Cameco during the third quarter valued at $507,000. Finally, Signaturefd LLC bought a new position in shares of Cameco during the third quarter valued at $921,000. Institutional investors own 70.21% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on CCJ. Truist Financial reduced their target price on shares of Cameco from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Jefferies Financial Group began coverage on shares of Cameco in a research report on Thursday, September 3rd. They set a “buy” rating and a $138.00 target price for the company. Barclays dropped their target price on shares of Cameco from $97.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, October 19th. Citigroup reissued a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average target price of $148.10.
View Our Latest Research Report on CCJ
Cameco Stock Up 0.6%
NYSE CCJ opened at $79.09 on Tuesday. The stock has a fifty day moving average of $92.24 and a 200-day moving average of $104.80. The stock has a market capitalization of $34.45 billion, a P/E ratio of 89.32, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. Cameco Corporation has a 52 week low of $76.92 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 – Get Free Report) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The firm had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%. The company’s revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities research analysts forecast that Cameco Corporation will post 1.09 EPS for the current year.
Cameco Company Profile
Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.
Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.
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