Ancora Advisors LLC Takes Position in Cameco Corporation $CCJ

Key Points

• Ancora Advisors initiated a position in Cameco during the second quarter, purchasing 28,090 shares valued at approximately $2.86 million. Institutional investors collectively own 70.21% of the company.
• Analyst sentiment remains positive overall, with 14 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $145.68, despite mixed individual target revisions.
• Cameco’s latest quarterly results fell short of expectations: EPS was $0.13 versus a $0.26 estimate, while revenue declined 6.8% year over year to $573.06 million.

Ancora Advisors LLC bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,090 shares of the basic materials company's stock, valued at approximately $2,861,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCJ. Sterling Capital Management LLC bought a new stake in Cameco in the 1st quarter valued at $30,000. Brown Lisle Cummings Inc. boosted its position in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company's stock worth $32,000 after purchasing an additional 288 shares during the period. Mcguire Capital Advisors Inc. bought a new position in Cameco during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 307 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Cameco by 928.6% in the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 70.21% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCJ. Scotiabank restated an "outperform" rating and set a $175.00 target price on shares of Cameco in a research note on Wednesday, May 6th. Barclays decreased their price target on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Cameco from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Bank of America cut their price objective on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Finally, Truist Financial boosted their price objective on Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $145.68.

Cameco Trading Up 0.5%

CCJ opened at $107.51 on Thursday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $46.82 billion, a price-to-earnings ratio of 182.22, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a 50-day simple moving average of $96.14 and a 200 day simple moving average of $107.17. Cameco Corporation has a twelve month low of $73.20 and a twelve month high of $135.24.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last announced 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). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period last year, the business earned $0.71 earnings per share. The business's revenue was down 6.8% compared to the same quarter last year. Analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal 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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