Asset One Wealth Management LLC Purchases New Shares in Cameco Corporation $CCJ

Key Points

• Asset One Wealth Management acquired 28,913 Cameco shares in the second quarter, valued at approximately $2.63 million. Institutional investors and hedge funds collectively own 70.21% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and five Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $145.68.
• 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.

Asset One Wealth Management LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,913 shares of the basic materials company's stock, valued at approximately $2,631,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bison Wealth LLC boosted its position in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC boosted its position in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock worth $393,000 after acquiring an additional 1,361 shares during the period. Integrated Wealth Concepts LLC grew its stake in Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock valued at $24,895,000 after acquiring an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in shares of Cameco in the 2nd quarter valued at about $14,252,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on CCJ shares. Royal Bank Of Canada raised their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Barclays dropped their price objective 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. Bank of America cut their target price 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. Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, Citigroup restated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $145.68.

Cameco Price Performance

NYSE CCJ opened at $102.55 on Monday. Cameco Corporation has a fifty-two week low of $72.75 and a fifty-two week high of $135.24. The stock's 50-day moving average is $96.21 and its two-hundred day moving average is $107.40. The firm has a market cap of $44.66 billion, a P/E ratio of 173.81, a price-to-earnings-growth ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

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 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 company had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the prior year, the company posted $0.71 EPS. The business's revenue was down 6.8% on a year-over-year basis. On average, analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco Company 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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