Adams Natural Resources Fund Inc. Buys New Position in Cameco Corporation $CCJ

Adams Natural Resources Fund Inc. bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 18,000 shares of the basic materials company’s stock, valued at approximately $1,647,000.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in shares of Cameco in the 4th quarter worth approximately $25,000. Founders Capital Management bought a new stake in shares of Cameco in the 4th quarter worth approximately $27,000. Strategic Advocates LLC bought a new stake in shares of Cameco in the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Cameco by 30,700.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 307 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of 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 acquiring an additional 325 shares during the period. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Zacks Research lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. William Blair assumed coverage on Cameco in a research note on Monday, April 20th. They issued an “outperform” rating on the stock. Glj Research reaffirmed a “buy” rating and issued a $171.20 price target (up from $100.00) on shares of Cameco in a research note on Wednesday, February 18th. Finally, Barclays began coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $148.62.

Cameco Trading Up 2.0%

Shares of CCJ opened at $100.94 on Friday. The stock has a fifty day moving average price of $113.12 and a two-hundred day moving average price of $109.09. 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 $64.84 and a 52-week high of $135.24. The company has a market cap of $43.96 billion, a price-to-earnings ratio of 93.47, a PEG ratio of 1.71 and a beta of 0.99.

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, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Analysts predict that Cameco Corporation will post 1.31 EPS for the current fiscal year.

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.