Tobam Increases Position in Cameco Corporation $CCJ

Tobam grew its holdings in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 1,126.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,521 shares of the basic materials company’s stock after buying an additional 5,071 shares during the quarter. Tobam’s holdings in Cameco were worth $505,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. William Blair assumed coverage on Cameco in a report on Monday, April 20th. They issued an “outperform” rating for the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Scotiabank reaffirmed an “outperform” rating and set a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Weiss Ratings cut Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Finally, Barclays started coverage on shares of Cameco in a research note on Thursday, May 21st. They set an “equal weight” rating and a $108.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Cameco presently has a consensus rating of “Moderate Buy” and an average price target of $147.42.

Cameco Trading Up 0.1%

CCJ opened at $106.57 on Friday. 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 one year low of $67.60 and a one year high of $135.24. The business’s 50-day simple moving average is $112.56 and its 200-day simple moving average is $109.76. The company has a market cap of $46.42 billion, a P/E ratio of 98.68, a PEG ratio of 1.94 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The firm had revenue of $607.49 million during the quarter, compared to analysts’ expectations of $598.63 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts expect that Cameco Corporation will post 1.21 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.