Signaturefd LLC Makes New $921,000 Investment in Cameco Corporation $CCJ

Signaturefd LLC purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,627 shares of the basic materials company’s stock, valued at approximately $921,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC purchased a new stake in shares of Cameco in the first quarter worth about $30,000. CX Institutional grew its stake in shares of Cameco by 2,181.2% in the third quarter. CX Institutional now owns 365 shares of the basic materials company’s stock valued at $32,000 after buying an additional 349 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of Cameco in the first quarter valued at about $39,000. Dunhill Financial LLC purchased a new stake in shares of Cameco during the 2nd quarter valued at about $39,000. Finally, Trust Co. of Vermont purchased a new stake in shares of Cameco during the 2nd quarter valued at about $39,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Zacks Research downgraded shares of Cameco from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Truist Financial lowered their price objective on shares of Cameco from $130.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Weiss Ratings upgraded shares of Cameco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Bank of America reduced their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cameco currently has an average rating of “Moderate Buy” and a consensus target price of $148.10.

Cameco Price Performance

NYSE:CCJ opened at $82.33 on Wednesday. The firm has a 50-day moving average of $91.54 and a two-hundred day moving average of $104.58. The stock has a market cap of $35.86 billion, a P/E ratio of 139.55 and a beta of 1.17. Cameco Corporation has a 1-year low of $76.92 and a 1-year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results 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). The firm had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. During the same period in the previous year, the company earned $0.71 EPS. Cameco’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities analysts expect that Cameco Corporation will post 1.09 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation is a Canadian uranium company that explores for, mines, processes and supplies uranium used to generate nuclear power. The company produces uranium concentrates, commonly known as yellowcake, which are sold to nuclear utilities and other customers for conversion into nuclear fuel.

Cameco’s principal mining operations are located in northern Saskatchewan, including the McArthur River and Cigar Lake mines. It also operates the Key Lake uranium mill and has interests in uranium assets in Kazakhstan through the Inkai joint venture.