JCIC Asset Management Inc. Buys New Holdings in Cameco Corporation $CCJ

Key Points

• JCIC Asset Management bought a new stake of 40,310 shares in Cameco in Q4, valued at about $3.69 million, and several other institutional investors also added to their positions — institutional ownership now stands at 70.21%.
• Analyst sentiment is broadly positive with 11 Buy and 3 Hold ratings and an average price target of $150.40, although TD Securities recently cut its rating to Hold while firms like GLJ and CIBC raised targets.
• Cameco beat Q4 estimates with $0.36 EPS versus $0.29 expected and revenue of about $874.6M, and the stock trades near $115.41 with a market cap of roughly $50.26B and a 52‑week range of $37.77–$135.24.

JCIC Asset Management Inc. bought a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,310 shares of the basic materials company's stock, valued at approximately $3,691,000.

Several other hedge funds also recently added to or reduced their stakes in the business. MH & Associates Securities Management Corp ADV purchased a new stake in Cameco in the fourth quarter valued at $2,869,000. Addenda Capital Inc. boosted its holdings in Cameco by 21.1% in the fourth quarter. Addenda Capital Inc. now owns 538,043 shares of the basic materials company's stock valued at $49,226,000 after purchasing an additional 93,887 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Cameco by 6.0% in the fourth quarter. Yousif Capital Management LLC now owns 5,335 shares of the basic materials company's stock valued at $488,000 after purchasing an additional 300 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Cameco in the fourth quarter valued at $125,000. Finally, Rathbones Group PLC boosted its holdings in Cameco by 7.7% in the fourth quarter. Rathbones Group PLC now owns 560,250 shares of the basic materials company's stock valued at $51,361,000 after purchasing an additional 40,048 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TD Securities lowered Cameco from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Sanford C. Bernstein restated an "outperform" rating and issued a $147.00 price objective on shares of Cameco in a research report on Thursday, February 5th. Weiss Ratings upgraded Cameco from a "hold (c)" rating to a "buy (b-)" rating in a research report on Monday, February 23rd. Glj Research restated a "buy" rating and issued a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Cameco to $202.00 in a research report on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $150.40.

Cameco Trading Down 0.4%

CCJ stock opened at $115.41 on Friday. The company's 50-day simple moving average is $114.10 and its 200-day simple moving average is $101.59. The company has a quick ratio of 1.68, a current ratio of 2.47 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 52-week low of $37.77 and a 52-week high of $135.24. The firm has a market cap of $50.26 billion, a P/E ratio of 118.98 and a beta of 1.02.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. During the same period in the prior year, the company posted $0.36 EPS. The company's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

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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