Corient Private Wealth LP Takes $5.34 Million Position in Cameco Corporation $CCJ

Key Points

• Corient Private Wealth purchased 52,378 Cameco shares in the second quarter, establishing a position worth approximately $5.34 million. Institutional investors and hedge funds collectively own 70.21% of the stock.
• Analysts maintain a generally positive view, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $145.68.
• Cameco’s latest quarter fell short of expectations: adjusted EPS was $0.13 versus the $0.26 consensus, while revenue declined 6.8% year over year to $573.06 million.

Corient Private Wealth LP bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 52,378 shares of the basic materials company's stock, valued at approximately $5,344,000.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC acquired a new stake in Cameco in the first quarter valued at approximately $30,000. Brown Lisle Cummings Inc. raised its position in shares of 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. acquired a new position in shares of Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd raised its position in shares of Cameco by 30,700.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company's stock worth $28,000 after purchasing an additional 307 shares during the period. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company's stock worth $30,000 after purchasing an additional 325 shares in the last quarter. 70.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCJ has been the subject of several research reports. Truist Financial lifted their price target on shares of Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Weiss Ratings lowered shares of Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Barclays reduced their price objective on shares of Cameco from $104.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Royal Bank Of Canada boosted their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $135.00 target price on shares of Cameco in a report on Monday, June 15th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.68.

Cameco Stock Down 1.3%

Shares of NYSE:CCJ opened at $98.75 on Tuesday. The stock has a market cap of $43.01 billion, a price-to-earnings ratio of 167.37, a PEG ratio of 1.71 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12-month low of $73.20 and a 12-month high of $135.24. The business's 50 day moving average is $95.84 and its 200 day moving average is $106.84.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $579.60 million. During the same period in the previous year, the company posted $0.71 earnings per share. The company's quarterly revenue was down 6.8% compared to the same quarter last year. On average, sell-side analysts forecast 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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