Cameco Corporation $CCJ Stock: Foster Victor Wealth Advisors LLC Boosts Holdings

Key Points

• Foster Victor Wealth Advisors increased its Cameco position by 19.5% in the third quarter, bringing its holdings to 130,903 shares valued at approximately $10.6 million. Institutional investors and hedge funds collectively own 70.21% of the company.
• Cameco shares opened at $81.99, near the lower end of their 52-week range of $77.70 to $135.24. The company’s latest quarterly results missed expectations, with adjusted EPS of $0.13 versus the $0.26 analyst consensus and revenue down 6.8% year over year.
• Analyst sentiment remains broadly positive, with 12 Buy, four Hold and one Sell rating, resulting in a consensus “Moderate Buy” rating and an average price target of $148.52.

Foster Victor Wealth Advisors LLC raised its position in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 19.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,903 shares of the basic materials company's stock after purchasing an additional 21,370 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Cameco were worth $10,564,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC grew its stake in shares of Cameco by 3.1% in the first quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock valued at $387,000 after buying an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Cameco by 0.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,123 shares of the basic materials company's stock valued at $1,540,000 after buying an additional 125 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Cameco by 4.1% in the 1st quarter. QRG Capital Management Inc. now owns 3,414 shares of the basic materials company's stock valued at $371,000 after buying an additional 134 shares during the period. Novem Group lifted its stake in Cameco by 5.1% during the 3rd quarter. Novem Group now owns 2,854 shares of the basic materials company's stock worth $247,000 after acquiring an additional 138 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its stake in Cameco by 7.8% during the 1st quarter. Montag A & Associates Inc. now owns 1,940 shares of the basic materials company's stock worth $211,000 after acquiring an additional 140 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Stock Up 1.8%

Cameco stock opened at $81.99 on Thursday. Cameco Corporation has a twelve month low of $77.70 and a twelve month high of $135.24. The stock's fifty day simple moving average is $93.06 and its 200-day simple moving average is $100.85. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $35.71 billion, a P/E ratio of 138.97, a P/E/G ratio of 1.64 and a beta of 1.17.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its earnings results 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). The company had revenue of $573.06 million during the quarter, compared to analysts' expectations of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CCJ shares. Royal Bank Of Canada raised their target price on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, June 29th. Barclays dropped their target price on Cameco from $97.00 to $95.00 and set an "equal weight" rating for the company in a research report on Monday. Wall Street Zen lowered shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Truist Financial increased their price target on shares of Cameco from $129.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. Finally, Zacks Research cut shares of Cameco from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Twelve research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $148.52.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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