NewGen Asset Management Ltd Has $10.85 Million Holdings in Cameco Corporation $CCJ

NewGen Asset Management Ltd reduced its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 32.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,400 shares of the basic materials company’s stock after selling 62,600 shares during the quarter. Cameco accounts for 2.9% of NewGen Asset Management Ltd’s holdings, making the stock its 6th biggest holding. NewGen Asset Management Ltd’s holdings in Cameco were worth $10,851,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCJ. Financial Consulate Inc. acquired a new stake in Cameco during the third quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 182 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Cameco during the 3rd quarter worth approximately $37,000. Tobam boosted its position in shares of Cameco by 389.1% during the 3rd quarter. Tobam now owns 450 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 358 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in Cameco in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $116.35 on Tuesday. The stock’s 50-day moving average is $114.84 and its 200-day moving average is $96.83. Cameco Corporation has a 1-year low of $35.00 and a 1-year high of $135.24. The company has a current ratio of 2.47, a quick ratio of 1.68 and a debt-to-equity ratio of 0.14. The stock has a market cap of $50.67 billion, a P/E ratio of 119.95 and a beta of 0.98.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Friday, February 13th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The business had revenue of $874.57 million during the quarter, compared to analyst estimates of $782.13 million. During the same quarter last year, the business earned $0.36 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Raymond James Financial reissued an “outperform” rating on shares of Cameco in a report on Wednesday, January 14th. Weiss Ratings raised Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.40.

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.