NewEdge Advisors LLC Boosts Stock Position in Cameco Corporation $CCJ

Key Points

• NewEdge Advisors increased its Cameco stake by 29.2% in the second quarter, acquiring 48,919 additional shares and bringing its holdings to 216,241 shares valued at approximately $22.0 million. Institutional investors collectively own 70.21% of CCJ.
• Cameco shares opened at $97.41, down 3.0%, while the company’s latest quarterly results fell short of expectations: EPS was $0.13 versus a $0.26 consensus estimate, and revenue declined 6.8% year over year to $573.1 million.
• Analysts remain broadly optimistic, with 13 Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $148.68, well above the current share price.

NewEdge Advisors LLC raised its holdings in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 29.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,241 shares of the basic materials company's stock after purchasing an additional 48,919 shares during the period. NewEdge Advisors LLC's holdings in Cameco were worth $22,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCJ. Clearstead Advisors LLC boosted its stake in Cameco by 0.8% during the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company's stock valued at $929,000 after acquiring an additional 85 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company's stock worth $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company's stock valued at $176,000 after purchasing an additional 108 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Cameco by 3.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company's stock valued at $314,000 after purchasing an additional 114 shares in the last quarter. Finally, Midwest Trust Co lifted its position in shares of Cameco by 4.8% during the fourth quarter. Midwest Trust Co now owns 2,522 shares of the basic materials company's stock worth $231,000 after purchasing an additional 116 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Trading Down 3.0%

Shares of NYSE CCJ opened at $97.41 on Friday. The company has a market cap of $42.43 billion, a price-to-earnings ratio of 165.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. Cameco Corporation has a 12-month low of $77.53 and a 12-month high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock's 50 day simple moving average is $95.29 and its 200 day simple moving average is $105.88.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last issued its quarterly earnings data 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 return on equity of 7.59% and a net margin of 10.20%.The company had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. Cameco's quarterly revenue was down 6.8% compared to the same quarter last year. Equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CCJ shares. Citigroup reissued a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Wall Street Zen raised Cameco from a "sell" rating to a "hold" rating in a report on Saturday, September 5th. Weiss Ratings lowered Cameco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Truist Financial boosted 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, Bank of America dropped their price target on Cameco from $143.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $148.68.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company headquartered in Saskatoon, Saskatchewan. Established in 1988 through the merger of Saskatchewan Mining Development Corporation and Eldorado Nuclear Limited, Cameco is one of the world's largest publicly traded uranium producers.

The company explores, develops and operates uranium mines, primarily in Canada, the United States and Kazakhstan. Its assets include the McArthur River and Cigar Lake operations in northern Saskatchewan, as well as interests in the Inkai operation in Kazakhstan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.