Dockside LLC Buys Shares of 76,888 Cameco Corporation $CCJ

Dockside LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 76,888 shares of the basic materials company’s stock, valued at approximately $7,034,000. Cameco makes up about 1.8% of Dockside LLC’s investment portfolio, making the stock its 7th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of Cameco by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 2,483,216 shares of the basic materials company’s stock worth $208,450,000 after acquiring an additional 108,841 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new stake in Cameco during the 4th quarter worth approximately $1,974,000. Intech Investment Management LLC increased its position in Cameco by 3.8% during the 3rd quarter. Intech Investment Management LLC now owns 500,699 shares of the basic materials company’s stock worth $42,031,000 after purchasing an additional 18,261 shares in the last quarter. Caprock Group LLC acquired a new stake in Cameco during the 3rd quarter worth approximately $1,066,000. Finally, Vanguard Group Inc. increased 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 worth $1,653,639,000 after purchasing an additional 258,193 shares in the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 2.0%

Shares of NYSE:CCJ opened at $100.94 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 52-week low of $64.84 and a 52-week high of $135.24. The company has a 50 day moving average of $113.12 and a two-hundred day moving average of $109.09. The company has a market capitalization of $43.96 billion, a price-to-earnings ratio of 93.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Cameco had a net margin of 18.38% and a return on equity of 11.05%. The business had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Cameco Corporation will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Cameco in a research report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price for the company. William Blair initiated coverage on shares of Cameco in a research report on Monday, April 20th. They issued an “outperform” rating for the company. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their price objective on shares of Cameco from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Cameco to $202.00 in a research report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.62.

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.