Madison Asset Management LLC Invests $3.91 Million in Cameco Corporation $CCJ

Madison Asset Management LLC acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 38,420 shares of the basic materials company’s stock, valued at approximately $3,913,000.

Several other hedge funds have also made changes to their positions in the stock. Clearstead Advisors LLC grew its position in 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. HB Wealth Management LLC raised its holdings in Cameco by 3.1% in the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 107 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after acquiring an additional 108 shares during the period. S.A. Mason LLC lifted its position in shares of Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 111 shares during the period. Finally, Kingsview Wealth Management LLC lifted its position in shares of Cameco by 3.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after acquiring an additional 114 shares during the period. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Performance

NYSE:CCJ opened at $95.55 on Friday. The stock has a market capitalization of $41.61 billion, a P/E ratio of 161.95, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 1 year low of $70.47 and a 1 year high of $135.24. The firm has a 50 day moving average of $96.18 and a 200-day moving average of $107.53.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly 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 business had revenue of $573.06 million for the quarter, compared to the consensus estimate of $579.60 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCJ. Sanford C. Bernstein restated an “outperform” rating and set a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Bank of America decreased their price target on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Scotiabank restated an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Finally, Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Fourteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cameco currently has a consensus rating of “Moderate Buy” and an average price target 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.