MGB Wealth Management LLC Invests $230,000 in Cameco Co. (NYSE:CCJ)

MGB Wealth Management LLC bought a new stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) in the 1st quarter, HoldingsChannel.com reports. The firm bought 5,320 shares of the basic materials company’s stock, valued at approximately $230,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Cameco by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 15,711,083 shares of the basic materials company’s stock worth $677,148,000 after acquiring an additional 162,569 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cameco by 2.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,711,154 shares of the basic materials company’s stock worth $593,967,000 after purchasing an additional 288,400 shares during the period. Morgan Stanley boosted its position in Cameco by 5.8% during the third quarter. Morgan Stanley now owns 7,752,258 shares of the basic materials company’s stock worth $307,300,000 after purchasing an additional 428,310 shares in the last quarter. National Bank of Canada FI grew its stake in Cameco by 25.6% in the 4th quarter. National Bank of Canada FI now owns 4,180,221 shares of the basic materials company’s stock valued at $175,714,000 after acquiring an additional 850,704 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Cameco by 24.3% in the 4th quarter. CIBC Asset Management Inc now owns 2,319,455 shares of the basic materials company’s stock worth $100,324,000 after acquiring an additional 452,973 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCJ has been the topic of several research analyst reports. StockNews.com cut Cameco from a “hold” rating to a “sell” rating in a report on Thursday, April 4th. The Goldman Sachs Group boosted their price target on Cameco from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Bank of America raised their price objective on Cameco from $59.00 to $60.50 and gave the company a “buy” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Cameco Trading Down 0.6 %

NYSE CCJ traded down $0.30 on Friday, reaching $53.42. 957,079 shares of the company were exchanged, compared to its average volume of 4,372,489. Cameco Co. has a fifty-two week low of $31.18 and a fifty-two week high of $56.24. The stock has a market capitalization of $23.25 billion, a P/E ratio of 137.64 and a beta of 0.91. The business’s fifty day moving average price is $51.86 and its 200 day moving average price is $47.39. The company has a current ratio of 1.42, a quick ratio of 0.69 and a debt-to-equity ratio of 0.17.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.23). Cameco had a return on equity of 4.60% and a net margin of 9.28%. The firm had revenue of $470.29 million for the quarter. Analysts forecast that Cameco Co. will post 1.31 earnings per share for the current year.

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.