NTV Asset Management LLC Makes New $4.57 Million Investment in Cameco Corporation $CCJ

Key Points

• NTV Asset Management acquired 52,747 Cameco shares worth approximately $4.57 million in the third quarter. Institutional investors collectively own 70.21% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $148.10, despite some target-price cuts and one “Strong Sell” recommendation.
• Cameco shares opened at $78.62, near their 52-week low of $76.92, while the company’s latest quarterly results missed estimates: EPS was $0.13 versus $0.26 expected, and revenue fell 6.8% year over year.

NTV Asset Management LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 52,747 shares of the basic materials company's stock, valued at approximately $4,572,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of America Corp DE purchased a new stake in Cameco in the 2nd quarter valued at $735,498,000. Canada Pension Plan Investment Board purchased a new position in Cameco in the second quarter worth $420,346,000. BlackRock Inc. bought a new position in Cameco in the 2nd quarter valued at $381,091,000. Cibc World Market Inc. bought a new position in Cameco in the 2nd quarter valued at $354,022,000. Finally, Amundi grew its stake in Cameco by 13.7% in the 2nd quarter. Amundi now owns 2,992,074 shares of the basic materials company's stock valued at $304,773,000 after purchasing an additional 359,375 shares during the period. 70.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial lowered their target price on Cameco from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America reduced their price target on shares of Cameco from $143.00 to $140.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Zacks Research lowered shares of Cameco from a "hold" rating to a "strong sell" rating in a research report on Monday, October 5th. Jefferies Financial Group initiated coverage on shares of Cameco in a report on Thursday, September 3rd. They set a "buy" rating and a $138.00 price objective for the company. Finally, Weiss Ratings raised shares of Cameco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $148.10.

Cameco Price Performance

Shares of NYSE CCJ opened at $78.62 on Friday. The stock has a fifty day simple moving average of $92.30 and a two-hundred day simple moving average of $100.46. Cameco Corporation has a 1-year low of $76.92 and a 1-year high of $135.24. The firm has a market cap of $34.24 billion, a price-to-earnings ratio of 133.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last released its 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 firm 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%. The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Analysts anticipate that Cameco Corporation will post 1.09 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco's principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.

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