Tacita Capital Inc Makes New $596,000 Investment in Cameco Corporation $CCJ

Tacita Capital Inc purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 5,857 shares of the basic materials company’s stock, valued at approximately $596,000.

A number of other hedge funds have also recently made changes to their positions in CCJ. NewEdge Wealth LLC bought a new position in shares of Cameco in the second quarter worth $1,302,000. Danske Bank A S purchased a new stake in shares of Cameco in the second quarter worth $594,000. Gables Capital Management Inc. bought a new stake in Cameco during the second quarter valued at $199,000. Wealthfront Advisers LLC bought a new stake in Cameco during the second quarter valued at $857,000. Finally, First National Bank of Omaha purchased a new position in Cameco during the second quarter worth about $362,000. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Cameco Stock Up 2.0%

Shares of NYSE:CCJ opened at $97.95 on Thursday. Cameco Corporation has a 52-week low of $68.96 and a 52-week high of $135.24. The firm has a fifty day moving average of $96.25 and a 200 day moving average of $107.72. The firm has a market capitalization of $42.66 billion, a PE ratio of 166.01, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CCJ shares. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Truist Financial lifted their price target on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Scotiabank reissued an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Finally, Weiss Ratings downgraded shares of Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus price target of $145.68.

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.