NewEdge Wealth LLC Invests $1.30 Million in Cameco Corporation $CCJ

NewEdge Wealth LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,783 shares of the basic materials company’s stock, valued at approximately $1,302,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in 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 increased its stake in Cameco by 0.3% during the 4th quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock valued at $1,240,047,000 after purchasing an additional 41,430 shares in the last quarter. Van ECK Associates Corp raised its holdings 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 buying an additional 849,188 shares during the last quarter. Morgan Stanley raised its holdings in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after buying an additional 323,693 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Cameco in the fourth quarter worth approximately $443,265,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Truist Financial increased their price target on shares of Cameco from $129.00 to $130.00 and gave the company 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. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, Bank of America decreased their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.68.

Cameco Stock Up 7.3%

CCJ opened at $102.55 on Friday. The stock has a market capitalization of $44.66 billion, a price-to-earnings ratio of 173.81, a PEG ratio of 1.63 and a beta of 1.05. The firm has a 50 day moving average price of $96.21 and a 200-day moving average price of $107.49. Cameco Corporation has a twelve month low of $72.75 and a twelve month high of $135.24. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) 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 company had revenue of $573.06 million during the quarter, compared to analysts’ expectations of $579.60 million. During the same quarter in the prior year, the business posted $0.71 EPS. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. Equities research analysts forecast that Cameco Corporation will post 1.27 earnings per share 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.