Old West Investment Management LLC bought a new position in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) during the 2nd quarter, HoldingsChannel reports. The fund bought 193,664 shares of the basic materials company’s stock, valued at approximately $19,727,000. Cameco accounts for about 2.1% of Old West Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CCJ. Mcguire Capital Advisors Inc. purchased a new position in Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its holdings in Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares in the last quarter. Sterling Capital Management LLC purchased a new stake in Cameco in the 1st quarter valued at $30,000. Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 325 shares during the last quarter. Finally, Brown Lisle Cummings Inc. increased its stake in shares of Cameco by 3,200.0% in the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 288 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CCJ. Barclays reduced their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Royal Bank Of Canada raised their price objective on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Weiss Ratings downgraded shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and an average target price of $145.68.
Cameco Stock Performance
Shares of Cameco stock opened at $97.74 on Monday. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The business’s fifty day simple moving average is $96.44 and its 200-day simple moving average is $108.43. The firm has a market cap of $42.57 billion, a PE ratio of 165.66, a price-to-earnings-growth ratio of 1.67 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 (NYSE:CCJ – Get Free Report) (TSE:CCO) last issued its quarterly earnings data 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). The business 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 firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. Equities analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current year.
Cameco Profile
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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