Councilmark Asset Management LLC Invests $2.50 Million in Cameco Corporation $CCJ

Councilmark Asset Management LLC purchased a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,505 shares of the basic materials company’s stock, valued at approximately $2,496,000. Cameco comprises about 1.3% of Councilmark Asset Management LLC’s holdings, making the stock its 20th biggest position.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC purchased a new stake in Cameco during the first quarter worth about $30,000. Brown Lisle Cummings Inc. grew its position in shares of Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 307 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its stake in shares of Cameco by 928.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CCJ. Barclays dropped their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Bank of America decreased their target price on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

Shares of CCJ stock opened at $107.03 on Wednesday. The firm’s 50 day moving average is $96.10 and its 200 day moving average is $107.18. The stock has a market capitalization of $46.61 billion, a P/E ratio of 181.40, a PEG ratio of 1.75 and a beta of 1.05. Cameco Corporation has a 12 month low of $73.20 and a 12 month high of $135.24. 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) (TSE:CCO) last released its quarterly earnings data 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). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Cameco Company 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.