Dockside LLC Invests $5.70 Million in Cameco Corporation $CCJ

Key Points

• Dockside LLC bought 55,948 Cameco shares worth approximately $5.70 million in the second quarter, making CCJ its 11th-largest holding and 1.3% of its portfolio. Institutional investors collectively own 70.21% of the company.
• Analyst sentiment remains favorable, with 14 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $145.68. Royal Bank of Canada raised its target to $175, while Bank of America trimmed its target to $140 but maintained a Buy rating.
• Cameco’s latest quarter fell short of expectations: adjusted EPS was $0.13 versus a $0.26 consensus, while revenue declined 6.8% year over year to $573.06 million. Shares opened at $97.74, well below their 52-week high of $135.24.

Dockside LLC purchased a new position in shares of 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 institutional investor purchased 55,948 shares of the basic materials company's stock, valued at approximately $5,699,000. Cameco accounts for approximately 1.3% of Dockside LLC's investment portfolio, making the stock its 11th largest position.

Several other hedge funds also recently added to or reduced their stakes in CCJ. Norges Bank purchased a new stake in Cameco during the 4th quarter worth approximately $443,265,000. Marshall Wace LLP grew its position in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company's stock worth $160,343,000 after buying an additional 1,729,454 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cameco by 14,338.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company's stock worth $101,744,000 after buying an additional 1,104,378 shares during the last quarter. Man Group plc increased its stake in shares of Cameco by 126.3% in the third quarter. Man Group plc now owns 1,698,728 shares of the basic materials company's stock worth $142,455,000 after buying an additional 948,068 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in Cameco by 1,339.8% in the fourth quarter. Corient Private Wealth LLC now owns 964,552 shares of the basic materials company's stock valued at $88,247,000 after acquiring an additional 897,558 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Weiss Ratings downgraded Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday. Royal Bank Of Canada boosted their price objective on Cameco from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, June 29th. William Blair initiated coverage on Cameco in a research note on Monday, April 20th. They set an "outperform" rating on the stock. Finally, Bank of America reduced their target price on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $145.68.

Cameco Trading Down 0.0%

NYSE:CCJ opened at $97.74 on Friday. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. The stock has a market cap of $42.57 billion, a price-to-earnings ratio of 165.66, a PEG ratio of 1.67 and a beta of 1.05. The business has a fifty day moving average of $96.44 and a 200-day moving average of $108.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

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