ARK Investment Management LLC Boosts Stake in Cameco Corporation $CCJ

Key Points

• ARK Investment Management increased its stake in Cameco by 15.5% in Q3, adding 43,191 shares to hold 321,040 shares worth about $26.9 million (roughly 0.07% of the company).
• Cameco beat quarterly estimates with $0.36 EPS vs $0.29 expected and reported revenue of $874.6M (vs. $782.1M estimated), while the stock has recently traded near its one‑year high around $135.
• Analyst sentiment is mostly favorable with a consensus rating of Moderate Buy and an average price target of $143.03, with individual targets ranging as high as $160.

ARK Investment Management LLC raised its position in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 321,040 shares of the basic materials company's stock after buying an additional 43,191 shares during the quarter. ARK Investment Management LLC owned about 0.07% of Cameco worth $26,922,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Financial Consulate Inc. bought a new position in shares of Cameco during the 3rd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. raised its stake in Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 182 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Cameco during the third quarter valued at $37,000. Tobam grew its stake in shares of Cameco by 389.1% in the 3rd quarter. Tobam now owns 450 shares of the basic materials company's stock worth $38,000 after buying an additional 358 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Cameco in the 2nd quarter worth about $35,000. Institutional investors own 70.21% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCJ. Weiss Ratings upgraded shares of Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. The Goldman Sachs Group restated a "buy" rating and set a $131.00 price objective on shares of Cameco in a research report on Wednesday, February 4th. National Bank Financial reaffirmed an "outperform" rating on shares of Cameco in a research note on Thursday, November 6th. Royal Bank Of Canada boosted their target price on Cameco from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen lowered Cameco from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $143.03.

Cameco Stock Up 2.0%

Shares of NYSE:CCJ opened at $120.10 on Thursday. The firm has a market capitalization of $52.31 billion, a PE ratio of 123.81 and a beta of 0.98. The business has a 50 day simple moving average of $113.61 and a two-hundred day simple moving average of $95.82. Cameco Corporation has a 1 year low of $35.00 and a 1 year high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.47 and a quick ratio of 1.68.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.07. Cameco had a return on equity of 9.35% and a net margin of 17.00%.The firm had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. Cameco's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. On average, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

About Cameco

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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