Segment Wealth Management LLC Makes New Investment in Cameco Corporation (NYSE:CCJ)

Segment Wealth Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ - Free Report) TSE: CCO in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,150 shares of the basic materials company's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CCJ. Allspring Global Investments Holdings LLC acquired a new position in Cameco in the fourth quarter valued at about $4,647,000. Principal Securities Inc. lifted its holdings in shares of Cameco by 132.9% during the 4th quarter. Principal Securities Inc. now owns 1,742 shares of the basic materials company's stock valued at $90,000 after purchasing an additional 994 shares in the last quarter. Allworth Financial LP grew its position in shares of Cameco by 192.7% in the 4th quarter. Allworth Financial LP now owns 3,480 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 2,291 shares during the period. Principal Financial Group Inc. increased its stake in Cameco by 129.7% during the 4th quarter. Principal Financial Group Inc. now owns 614,300 shares of the basic materials company's stock worth $31,569,000 after purchasing an additional 346,869 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in Cameco by 11.6% during the 4th quarter. Sanctuary Advisors LLC now owns 15,587 shares of the basic materials company's stock worth $784,000 after purchasing an additional 1,618 shares in the last quarter. Institutional investors and hedge funds own 70.21% of the company's stock.

Cameco Price Performance

NYSE:CCJ opened at $68.33 on Friday. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $71.31. The company has a market cap of $29.75 billion, a P/E ratio of 170.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.26 and a current ratio of 2.70. The stock's 50-day simple moving average is $53.72 and its 200 day simple moving average is $49.93.

Cameco (NYSE:CCJ - Get Free Report) TSE: CCO last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.07). The company had revenue of $549.58 million for the quarter, compared to analyst estimates of $890.07 million. Cameco had a return on equity of 4.47% and a net margin of 7.50%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. As a group, sell-side analysts forecast that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CCJ. Stifel Nicolaus began coverage on shares of Cameco in a research note on Wednesday, March 12th. They issued a "buy" rating on the stock. UBS Group reaffirmed a "buy" rating on shares of Cameco in a research report on Tuesday, June 10th. Desjardins assumed coverage on Cameco in a report on Friday, April 4th. They set a "buy" rating for the company. Sanford C. Bernstein set a $70.00 price target on Cameco and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Wall Street Zen upgraded Cameco from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Cameco has an average rating of "Buy" and a consensus target price of $77.30.

Cameco Company Profile

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.

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