Madison Asset Management LLC Acquires Shares of 38,420 Cameco Corporation $CCJ

Madison Asset Management LLC bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 38,420 shares of the basic materials company’s stock, valued at approximately $3,913,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC purchased a new stake in shares of Cameco during the first quarter worth $30,000. Brown Lisle Cummings Inc. boosted its position in Cameco by 3,200.0% during the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Cameco in the fourth quarter valued at about $28,000. Caitong International Asset Management Co. Ltd grew its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 307 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCJ. Scotiabank reiterated an “outperform” rating and set a $175.00 price target on shares of Cameco in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Barclays reduced their target price 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. Truist Financial boosted their target price on shares of Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada increased their price target on shares of Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.68.

Cameco Price Performance

NYSE CCJ opened at $95.55 on Friday. Cameco Corporation has a twelve month low of $70.47 and a twelve month high of $135.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. The stock has a market capitalization of $41.61 billion, a PE ratio of 161.95, a P/E/G ratio of 1.68 and a beta of 1.05. The stock has a 50-day simple moving average of $96.18 and a 200 day simple moving average of $107.53.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. Research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current 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.