RFG Advisory LLC Makes New Investment in Cameco Corporation $CCJ

RFG Advisory LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the first quarter, Holdings Channel.com reports. The fund bought 6,174 shares of the basic materials company’s stock, valued at approximately $671,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in Cameco in the fourth quarter worth about $443,265,000. Marshall Wace LLP grew its holdings in shares of Cameco by 7,481.3% during the 4th quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after acquiring an additional 1,729,454 shares during the period. Van ECK Associates Corp raised its position in shares of Cameco by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,443,807 shares of the basic materials company’s stock worth $456,530,000 after acquiring an additional 1,644,061 shares in the last quarter. Mizuho Markets Cayman LP bought a new position in shares of Cameco in the 3rd quarter worth approximately $128,370,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cameco by 14,338.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,112,080 shares of the basic materials company’s stock valued at $101,744,000 after purchasing an additional 1,104,378 shares during the period. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

Shares of CCJ opened at $103.55 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average price is $111.17 and its 200-day moving average price is $110.53. Cameco Corporation has a 52 week low of $68.96 and a 52 week high of $135.24. The stock has a market cap of $45.10 billion, a P/E ratio of 95.88, a P/E/G ratio of 1.91 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million during the quarter, compared to analyst estimates of $598.63 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Cameco Corporation will post 1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CCJ shares. Barclays initiated coverage on Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price target on the stock. Scotiabank reiterated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Canadian Imperial Bank of Commerce boosted their target price on shares of Cameco to $202.00 in a report on Monday, March 9th. Finally, Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.92.

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.