6,297 Shares in Cameco Corporation (NYSE:CCJ) Acquired by Wealthspire Advisors LLC

Key Points

• Wealthspire Advisors LLC has acquired 6,297 shares of Cameco Corporation (NYSE: CCJ) worth approximately $259,000 in the first quarter, reflecting increasing interest from institutional investors.
• Cameco recently reported quarterly earnings of $0.51 per share, exceeding estimates, while revenue saw a 46.7% year-over-year increase.
• Analysts have a strong outlook on Cameco, with twelve analysts rating the stock as a "buy" and a consensus price target of $82.65.

Wealthspire Advisors LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,297 shares of the basic materials company's stock, valued at approximately $259,000.

Several other hedge funds also recently bought and sold shares of CCJ. Vanguard Capital Wealth Advisors bought a new position in shares of Cameco in the fourth quarter worth about $839,000. Kayne Anderson Capital Advisors LP grew its position in shares of Cameco by 41.6% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after buying an additional 11,879 shares in the last quarter. Nicholson Meyer Capital Management Inc. purchased a new position in Cameco during the 1st quarter valued at about $350,000. Balefire LLC raised its stake in Cameco by 42.9% in the first quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock worth $1,383,000 after buying an additional 10,081 shares in the last quarter. Finally, Galibier Capital Management Ltd. purchased a new stake in shares of Cameco during the 1st quarter worth $11,655,000. Institutional investors own 70.21% of the company's stock.

Cameco Stock Up 0.9%

Shares of CCJ stock opened at $77.02 on Friday. Cameco Corporation has a fifty-two week low of $35.00 and a fifty-two week high of $80.32. The firm has a market capitalization of $33.53 billion, a PE ratio of 88.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.00 and a current ratio of 2.96. The stock's 50-day simple moving average is $72.05 and its 200-day simple moving average is $55.20.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.22. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company had revenue of $467.72 million for the quarter, compared to the consensus estimate of $819.79 million. During the same quarter in the prior year, the company earned $0.14 EPS. Cameco's quarterly revenue was up 46.7% on a year-over-year basis. Equities analysts expect that Cameco Corporation will post 1.27 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on CCJ shares. Glj Research reiterated a "buy" rating and set a $75.27 price objective on shares of Cameco in a research note on Thursday, June 12th. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. TD Securities reissued a "buy" rating on shares of Cameco in a research report on Tuesday. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Finally, Scotiabank reiterated an "outperform" rating on shares of Cameco in a research note on Tuesday, July 8th. Twelve analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Cameco currently has an average rating of "Buy" and a consensus price target of $82.65.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.

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