M. Kulyk & Associates LLC Makes New Investment in Cameco Corporation $CCJ

M. Kulyk & Associates LLC purchased a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, Holdings Channel.com reports. The firm purchased 59,005 shares of the basic materials company’s stock, valued at approximately $6,010,000.

Several other institutional investors have also made changes to their positions in CCJ. Vanguard Group Inc. raised its position in Cameco by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,059,335 shares of the basic materials company’s stock valued at $1,653,639,000 after acquiring an additional 258,193 shares in the last quarter. Capital World Investors grew its position in Cameco by 0.3% in the fourth quarter. Capital World Investors now owns 13,545,354 shares of the basic materials company’s stock worth $1,240,047,000 after acquiring an additional 41,430 shares in the last quarter. Van ECK Associates Corp grew its position in Cameco by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 6,292,995 shares of the basic materials company’s stock worth $575,771,000 after acquiring an additional 849,188 shares in the last quarter. Morgan Stanley grew its position in Cameco by 7.0% in the fourth quarter. Morgan Stanley now owns 4,978,333 shares of the basic materials company’s stock worth $455,468,000 after acquiring an additional 323,693 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Cameco during the 4th quarter worth $443,265,000. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Cameco Trading Down 2.6%

Shares of Cameco stock opened at $95.97 on Wednesday. The company’s fifty day simple moving average is $96.19 and its 200-day simple moving average is $107.97. The company has a market cap of $41.80 billion, a price-to-earnings ratio of 162.66, a PEG ratio of 1.67 and a beta of 1.05. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. As a group, sell-side analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Barclays lowered their target price on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Bank of America cut their target price on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Truist Financial boosted their price target on Cameco from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.