NewEdge Advisors LLC Has $18.17 Million Stake in Cameco Corporation $CCJ

Key Points

• NewEdge Advisors LLC cut its Cameco stake by 22.9% in the first quarter, selling 49,608 shares and retaining 167,322 shares valued at approximately $18.17 million.
• Institutional ownership remains significant at 70.21%, while analyst sentiment is generally positive: Cameco has a “Moderate Buy” consensus rating and an average price target of $145.60.
• Cameco’s latest quarter fell short of expectations, with EPS of $0.13 versus the $0.26 consensus and revenue down 6.8% year over year to $573.06 million.

NewEdge Advisors LLC reduced its holdings in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO by 22.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,322 shares of the basic materials company's stock after selling 49,608 shares during the period. NewEdge Advisors LLC's holdings in Cameco were worth $18,173,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bison Wealth LLC grew its stake in Cameco by 16.1% during the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company's stock worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC lifted its stake in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company's stock valued at $393,000 after buying an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its stake in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company's stock valued at $349,000 after buying an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company's stock worth $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund bought a new position in shares of Cameco during the 2nd quarter worth approximately $14,252,000. 70.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CCJ. Royal Bank Of Canada raised their price objective 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. Wall Street Zen lowered shares of Cameco from a "hold" rating to a "sell" rating in a research note on Saturday. William Blair began coverage on shares of Cameco in a report on Monday, April 20th. They issued an "outperform" rating for the company. Citigroup reiterated a "positive" rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Weiss Ratings cut shares of Cameco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.60.

Cameco Stock Up 4.0%

Cameco stock opened at $97.39 on Friday. The firm has a market capitalization of $42.42 billion, a price-to-earnings ratio of 165.06, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The firm's fifty day moving average price is $97.94 and its two-hundred day moving average price is $109.28. Cameco Corporation has a 1-year low of $68.96 and a 1-year high of $135.24. The company has a current ratio of 3.06, a quick ratio of 2.09 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The company's revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities research analysts predict that Cameco Corporation will post 1.36 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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