Beacon Pointe Advisors LLC Invests $2.84 Million in Cameco Corporation $CCJ

Key Points

• Beacon Pointe Advisors initiated a $2.84 million position in Cameco during the second quarter, purchasing 27,885 shares. Institutional investors collectively own 70.21% of the company.
• Cameco shares were recently down 5.9%, opening at $100.07, while the company reported quarterly EPS of $0.13—below the $0.26 consensus estimate—and revenue declined 6.8% year over year.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $145.68 price target, although some firms recently downgraded the stock or lowered their targets.

Beacon Pointe Advisors LLC purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,885 shares of the basic materials company's stock, valued at approximately $2,840,000.

Other hedge funds have also bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco during the 4th quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after acquiring an additional 307 shares during the period. Sterling Capital Management LLC acquired a new position in Cameco in the 1st quarter valued at $30,000. Sunbelt Securities Inc. lifted its position in shares of Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 325 shares during the period. Finally, Brown Lisle Cummings Inc. increased its position in shares of Cameco by 3,200.0% in 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. 70.21% of the stock is owned by institutional investors.

Cameco Stock Down 5.9%

Shares of CCJ opened at $100.07 on Friday. The stock's 50-day moving average price is $96.00 and its two-hundred day moving average price is $107.07. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. The company has a market capitalization of $43.58 billion, a PE ratio of 169.61, a PEG ratio of 1.71 and a beta of 1.05. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company's quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. On average, analysts anticipate that Cameco Corporation will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Cameco from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Barclays decreased 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. Truist Financial raised their target price on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Cameco currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.68.

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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