Spark Investment Management LLC Acquires Shares of 10,000 Cameco Corporation $CCJ

Spark Investment Management LLC bought a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the basic materials company’s stock, valued at approximately $839,000. Cameco accounts for about 2.1% of Spark Investment Management LLC’s holdings, making the stock its 12th largest position.

Other large investors have also made changes to their positions in the company. Financial Consulate Inc. acquired a new stake in Cameco in the third quarter worth about $25,000. Armstrong Advisory Group Inc. raised its stake in shares of Cameco by 110.3% during the third quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after buying an additional 182 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Cameco in the second quarter valued at approximately $35,000. Creative Financial Designs Inc. ADV boosted its stake in Cameco by 936.2% in the second quarter. Creative Financial Designs Inc. ADV now owns 487 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 440 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Cameco during the 3rd quarter worth $37,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCJ. National Bank Financial reissued an “outperform” rating on shares of Cameco in a research note on Thursday, November 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research note on Wednesday, January 14th. Weiss Ratings raised shares of Cameco from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $131.00 target price on shares of Cameco in a research note on Wednesday, February 4th. Finally, Wall Street Zen lowered shares of Cameco from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Price Performance

NYSE CCJ opened at $118.36 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. The stock has a market cap of $51.55 billion, a price-to-earnings ratio of 122.02 and a beta of 0.98. The business has a 50 day simple moving average of $111.91 and a 200 day simple moving average of $95.00. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company had revenue of $874.57 million during the quarter, compared to analysts’ expectations of $782.13 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Analysts anticipate that Cameco Corporation will post 1.27 earnings per share 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.