Purpose Unlimited Inc. Takes Position in Cameco Corporation $CCJ

Purpose Unlimited Inc. purchased a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 70,282 shares of the basic materials company’s stock, valued at approximately $6,436,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC grew its position in Cameco by 0.8% in the 4th quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC increased its stake in Cameco by 0.9% in the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after buying an additional 100 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Cameco by 5.9% during the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Cameco by 4.8% during the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cameco by 19.9% in the 4th quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after buying an additional 112 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CCJ shares. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $135.00 price target on shares of Cameco in a research report on Monday, June 15th. Weiss Ratings lowered Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Scotiabank reissued an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. Finally, William Blair initiated coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating for the company. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.42.

Cameco Stock Performance

NYSE CCJ opened at $106.57 on Friday. The company has a market capitalization of $46.42 billion, a PE ratio of 98.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. Cameco Corporation has a 52-week low of $67.60 and a 52-week high of $135.24. The company has a 50-day simple moving average of $112.56 and a 200 day simple moving average of $109.76.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating 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 firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. During the same period in the prior year, the firm earned $0.16 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts predict that Cameco Corporation will post 1.21 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.