Dockside LLC Invests $7.03 Million in Cameco Corporation $CCJ

Dockside LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 76,888 shares of the basic materials company’s stock, valued at approximately $7,034,000. Cameco makes up approximately 1.8% of Dockside LLC’s holdings, making the stock its 7th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Clearstead Advisors LLC grew its position in shares of Cameco by 0.8% during the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after buying an additional 85 shares in the last quarter. Legacy Bridge LLC lifted its stake in Cameco by 0.9% during the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares during the last quarter. S.A. Mason LLC lifted its stake in Cameco by 4.8% during the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares during the last quarter. GAMMA Investing LLC lifted its stake in Cameco by 19.9% during the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in Cameco by 3.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Performance

CCJ stock opened at $100.94 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The stock has a market capitalization of $43.96 billion, a price-to-earnings ratio of 93.47, a PEG ratio of 1.71 and a beta of 0.99. Cameco Corporation has a 1 year low of $64.84 and a 1 year high of $135.24. The stock’s fifty day moving average is $113.12 and its two-hundred day moving average is $109.09.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. On average, research analysts predict that Cameco Corporation will post 1.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CCJ shares. Glj Research restated a “buy” rating and set a $171.20 price objective (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Zacks Research cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce raised their price objective on Cameco to $202.00 in a research note on Monday, March 9th. Royal Bank Of Canada raised their price objective on Cameco from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Eleven research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.62.

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.