McAlvany Wealth Management LLC Takes Position in Cameco Corporation $CCJ

McAlvany Wealth Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,871 shares of the basic materials company’s stock, valued at approximately $812,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Purpose Unlimited Inc. bought a new position in shares of Cameco during the 4th quarter worth approximately $6,436,000. Rockefeller Capital Management L.P. raised its stake in Cameco by 6.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 154,926 shares of the basic materials company’s stock worth $14,174,000 after acquiring an additional 9,826 shares in the last quarter. World Investment Advisors bought a new position in shares of Cameco during the fourth quarter valued at $455,000. ARP Global Capital Ltd acquired a new stake in shares of Cameco in the 4th quarter valued at $14,438,000. Finally, SHP Wealth Management acquired a new stake in shares of Cameco in the 4th quarter valued at $353,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

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Cameco Stock Up 0.1%

Shares of NYSE:CCJ opened at $106.57 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The firm has a market cap of $46.42 billion, a P/E ratio of 98.68, a P/E/G ratio of 1.94 and a beta of 0.99. Cameco Corporation has a 12 month low of $67.60 and a 12 month high of $135.24. The company’s 50-day moving average price is $112.56 and its two-hundred day moving average price is $109.76.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Cameco Corporation will post 1.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCJ. Canadian Imperial Bank of Commerce increased their target price on shares of Cameco to $202.00 in a research report on Monday, March 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. William Blair assumed coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Finally, Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $147.42.

View Our Latest Stock Analysis on Cameco

About Cameco

(Free Report)

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.

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