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

M. Kulyk & Associates LLC acquired a new position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 104,659 shares of the basic materials company’s stock, valued at approximately $8,777,000. Cameco accounts for about 1.8% of M. Kulyk & Associates LLC’s investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also made changes to their positions in the stock. Financial Consulate Inc. bought a new position in Cameco during the third quarter valued at about $25,000. Armstrong Advisory Group Inc. grew its holdings in shares of Cameco by 110.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 347 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 182 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Cameco during the third quarter valued at approximately $37,000. Tobam increased its position in shares of Cameco by 389.1% during the third quarter. Tobam now owns 450 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 358 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Cameco in the second quarter valued at $35,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Cameco from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $131.00 price objective on shares of Cameco in a report on Wednesday, February 4th. Zacks Research lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Glj Research reissued a “buy” rating and issued a $171.20 price target (up previously from $100.00) on shares of Cameco in a research report on Wednesday, February 18th. Finally, UBS Group assumed coverage on Cameco in a report on Monday, November 10th. They set a “neutral” rating and a $140.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $143.03.

Cameco Stock Down 2.2%

CCJ opened at $118.63 on Tuesday. The firm has a market cap of $51.67 billion, a price-to-earnings ratio of 122.30 and a beta of 0.99. 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 firm’s 50-day simple moving average is $109.36 and its 200-day simple moving average is $93.81. Cameco Corporation has a twelve month low of $35.00 and a twelve month 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 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $874.57 million for the quarter, compared to analyst estimates of $782.13 million. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts anticipate that Cameco Corporation will post 1.27 EPS for the current fiscal year.

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.