HBK Sorce Advisory LLC Acquires Shares of 7,499 Cameco Corporation $CCJ

HBK Sorce Advisory LLC bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,499 shares of the basic materials company’s stock, valued at approximately $707,000.

Several other large investors have also recently modified their holdings of CCJ. Bison Wealth LLC boosted its holdings in Cameco by 16.1% in the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC raised its holdings in Cameco by 16.6% during the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cameco by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund bought a new position in shares of Cameco in the second quarter worth $14,252,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCJ shares. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. William Blair started coverage on Cameco in a research report on Monday, April 20th. They set an “outperform” rating on the stock. Scotiabank reissued an “outperform” rating and issued a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Barclays reduced their price objective on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada upped their target price on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Fourteen equities research 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco Stock Performance

NYSE:CCJ opened at $98.59 on Tuesday. Cameco Corporation has a twelve month low of $68.96 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. The stock has a market cap of $42.94 billion, a P/E ratio of 167.10, a PEG ratio of 1.67 and a beta of 1.05. The business’s 50-day moving average price is $96.31 and its two-hundred day moving average price is $108.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data 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). 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 the consensus estimate of $579.60 million. During the same quarter last year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, equities analysts predict that Cameco Corporation will post 1.27 EPS for the current fiscal year.

About Cameco

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.