HBK Sorce Advisory LLC Invests $707,000 in Cameco Corporation $CCJ

HBK Sorce Advisory LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, HoldingsChannel reports. The fund acquired 7,499 shares of the basic materials company’s stock, valued at approximately $707,000.

Other hedge funds also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. purchased a new position in shares of Cameco during the fourth quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd grew its holdings 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 valued at $28,000 after purchasing an additional 307 shares during the last quarter. Sterling Capital Management LLC bought a new position in shares of Cameco during the 1st quarter valued at $30,000. Sunbelt Securities Inc. raised its position in Cameco by 928.6% in 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 period. Finally, Brown Lisle Cummings Inc. lifted its stake in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Cameco Price Performance

Shares of CCJ stock opened at $98.59 on Tuesday. 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 fifty-two week low of $68.96 and a fifty-two week high of $135.24. The firm has a market cap of $42.94 billion, a P/E ratio of 167.10, a P/E/G ratio of 1.67 and a beta of 1.05. The business’s 50 day moving average price is $96.31 and its 200-day moving average price is $108.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced 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 net margin of 10.20% and a return on equity of 7.59%. The business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter in the prior year, the company earned $0.71 EPS. Cameco’s revenue was down 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cameco Corporation will post 1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings cut Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. William Blair began coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Barclays decreased their price target 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. Finally, Citigroup reiterated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.68.

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.