M. Kulyk & Associates LLC Makes New Investment in Cameco Corporation $CCJ

Key Points

• M. Kulyk & Associates purchased 59,005 Cameco shares in the second quarter, valued at approximately $6.01 million. Institutional investors and hedge funds collectively own 70.21% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and five Holds, producing a “Moderate Buy” consensus and an average price target of $145.68. Recent targets ranged from $97 to $175.
• Cameco shares opened at $95.97 after declining 2.6%, while the company’s latest quarterly results missed expectations: EPS was $0.13 versus the $0.26 consensus, and revenue fell 6.8% year over year to $573.06 million.

M. Kulyk & Associates LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 59,005 shares of the basic materials company's stock, valued at approximately $6,010,000.

Several other hedge funds also recently modified their holdings of CCJ. Vanguard Group Inc. boosted its stake in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company's stock valued at $1,653,639,000 after buying an additional 258,193 shares in the last quarter. Capital World Investors grew its holdings in Cameco by 0.3% during the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company's stock worth $1,240,047,000 after acquiring an additional 41,430 shares during the period. Van ECK Associates Corp raised its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company's stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Morgan Stanley raised its position in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company's stock worth $455,468,000 after acquiring an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new stake in Cameco in the 4th quarter valued at about $443,265,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCJ shares. Barclays lowered 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. Scotiabank restated an "outperform" rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Royal Bank Of Canada lifted their price target 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. Truist Financial upped their price target on Cameco from $129.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $145.68.

Cameco Trading Down 2.6%

NYSE:CCJ opened at $95.97 on Wednesday. The stock has a market cap of $41.80 billion, a PE ratio of 162.66, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. The stock's 50-day moving average is $96.19 and its two-hundred day moving average is $107.97.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly 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 return on equity of 7.59% and a net margin of 10.20%.Cameco's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. As a group, equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Cameco 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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