Modera Wealth Management LLC Purchases New Shares in Cameco Corporation (NYSE:CCJ)

Key Points

• Modera Wealth Management LLC has acquired a new position in Cameco Corporation, purchasing 5,426 shares valued at approximately $223,000 during the first quarter.
• Notable institutional investors, including FMR LLC and Canada Pension Plan Investment Board, have significantly increased their stakes in Cameco, indicating strong institutional interest in the company.
• Analysts have a consensus rating of "Buy" for Cameco, with a price target increase from $65.00 to $78.00 by Goldman Sachs, reflecting positive expectations for the company's future performance.

Modera Wealth Management LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 5,426 shares of the basic materials company's stock, valued at approximately $223,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Capital Wealth Advisors acquired a new position in shares of Cameco in the 4th quarter worth approximately $839,000. Kayne Anderson Capital Advisors LP lifted its stake in Cameco by 41.6% during the first quarter. Kayne Anderson Capital Advisors LP now owns 40,407 shares of the basic materials company's stock worth $1,663,000 after purchasing an additional 11,879 shares in the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in Cameco during the first quarter worth $350,000. Balefire LLC lifted its stake in Cameco by 42.9% during the first quarter. Balefire LLC now owns 33,601 shares of the basic materials company's stock worth $1,383,000 after purchasing an additional 10,081 shares in the last quarter. Finally, Galibier Capital Management Ltd. acquired a new position in Cameco during the 1st quarter worth about $11,655,000. Institutional investors and hedge funds own 70.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCJ shares. The Goldman Sachs Group increased their target price on Cameco from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Sanford C. Bernstein set a $70.00 price objective on shares of Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada raised their price objective on shares of Cameco from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group reiterated a "buy" rating on shares of Cameco in a report on Tuesday, June 10th. Finally, Wall Street Zen raised Cameco from a "hold" rating to a "buy" rating in a research report on Saturday. Ten equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cameco has a consensus rating of "Buy" and a consensus target price of $82.65.

Cameco Stock Up 3.1%

Cameco stock traded up $2.28 during trading on Monday, reaching $75.21. The stock had a trading volume of 3,434,160 shares, compared to its average volume of 5,076,301. The stock has a market cap of $32.75 billion, a PE ratio of 86.45 and a beta of 1.06. The business has a 50 day moving average price of $70.40 and a 200 day moving average price of $54.41. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $80.32. The company has a quick ratio of 2.00, a current ratio of 2.96 and a debt-to-equity ratio of 0.15.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.22. The business had revenue of $467.72 million during the quarter, compared to analysts' expectations of $819.79 million. Cameco had a net margin of 14.97% and a return on equity of 8.21%. The company's revenue for the quarter was up 46.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. On average, analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.