Global Retirement Partners LLC Acquires New Position in Cameco Corporation $CCJ

Global Retirement Partners LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,466 shares of the basic materials company’s stock, valued at approximately $761,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Cameco by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after purchasing an additional 258,193 shares during the last quarter. Capital World Investors lifted its stake in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after purchasing an additional 41,430 shares during the last quarter. Van ECK Associates Corp lifted its stake in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after purchasing an additional 849,188 shares during the last quarter. Morgan Stanley boosted its position in Cameco by 7.0% during the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock valued at $455,468,000 after buying an additional 323,693 shares during the period. Finally, Norges Bank purchased a new stake in Cameco during the fourth quarter valued at about $443,265,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CCJ shares. Truist Financial lifted 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. Citigroup restated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Barclays reduced their price target on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings cut shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada upped their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Stock Down 2.6%

Shares of NYSE:CCJ opened at $95.97 on Wednesday. The stock’s 50-day moving average is $96.19 and its 200 day moving average is $107.97. The company has a market cap of $41.80 billion, a PE ratio of 162.66, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

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 the consensus estimate of $0.26 by ($0.13). Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter last year, the business posted $0.71 EPS. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. Sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current 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.