Purpose Unlimited Inc. Buys New Position in Cameco Corporation $CCJ

Purpose Unlimited Inc. bought a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 70,282 shares of the basic materials company’s stock, valued at approximately $6,436,000.

A number of other hedge funds have also added to or reduced their stakes in CCJ. Nisa Investment Advisors LLC bought a new position in shares of Cameco during the 4th quarter worth approximately $25,000. Founders Capital Management bought a new stake in shares of Cameco in the 4th quarter valued at $27,000. Strategic Advocates LLC bought a new stake in shares of Cameco in the 3rd quarter valued at $28,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Cameco during the 4th quarter valued at $28,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares during the period. 70.21% of the stock is currently owned by institutional investors.

Cameco Stock Performance

Shares of 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. The stock has a 50 day moving average price of $112.56 and a two-hundred day moving average price of $109.76. The firm has a market capitalization of $46.42 billion, a P/E ratio of 98.68, a P/E/G ratio of 1.94 and a beta of 0.99. Cameco Corporation has a 52 week low of $67.60 and a 52 week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $598.63 million. During the same period in the prior year, the business posted $0.16 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Cameco Corporation will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. William Blair assumed coverage on shares of Cameco in a report on Monday, April 20th. They set an “outperform” rating on the stock. Canadian Imperial Bank of Commerce upped their price objective on shares of Cameco to $202.00 in a report on Monday, March 9th. TD Securities cut shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.42.

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.