Northwestern Mutual Wealth Management Co. Buys New Position in Cameco Corporation $CCJ

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel.com reports. The fund bought 6,609 shares of the basic materials company’s stock, valued at approximately $673,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cameco in the 4th quarter worth approximately $443,265,000. BlackRock Inc. bought a new stake in shares of Cameco in the 2nd quarter valued at $381,091,000. William Blair Investment Management LLC acquired a new stake in shares of Cameco during the second quarter worth $189,331,000. Marshall Wace LLP increased its position in shares of Cameco by 7,481.3% during the fourth quarter. Marshall Wace LLP now owns 1,752,571 shares of the basic materials company’s stock worth $160,343,000 after buying an additional 1,729,454 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Cameco during the second quarter worth $163,449,000. Institutional investors own 70.21% of the company’s stock.

Cameco Stock Up 0.5%

Cameco stock opened at $107.51 on Thursday. The company has a quick ratio of 2.10, a current ratio of 3.06 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 12-month low of $73.20 and a 12-month high of $135.24. The firm’s fifty day moving average is $96.14 and its 200 day moving average is $107.17. The company has a market capitalization of $46.82 billion, a PE ratio of 182.22, a PEG ratio of 1.83 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCJ. Truist Financial boosted their target price on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Bank of America dropped their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Citigroup restated a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Fourteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Cameco has an average rating of “Moderate Buy” and an average price target of $145.68.

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.