FirstWave Capital Management LLC Takes $977,000 Position in Cameco Corporation $CCJ

FirstWave Capital Management LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,593 shares of the basic materials company’s stock, valued at approximately $977,000.

Several other hedge funds have also made changes to their positions in the business. Bison Wealth LLC increased its stake in Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Cameco by 48.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new stake in shares of Cameco in the second quarter worth approximately $14,252,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CCJ shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a research note on Monday, June 15th. Truist Financial raised their price objective on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Barclays reduced 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. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Finally, Bank of America reduced their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cameco presently has an average rating of “Moderate Buy” and a consensus target price of $145.09.

Cameco Stock Performance

Cameco stock opened at $100.81 on Friday. The stock’s 50 day moving average price is $95.25 and its 200 day moving average price is $106.41. The firm has a market capitalization of $43.91 billion, a PE ratio of 170.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. Cameco Corporation has a one year low of $74.63 and a one year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The firm had revenue of $573.06 million for the quarter, compared to analyst estimates of $579.60 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.