Kingsview Wealth Management LLC Purchases New Position in Cameco Corporation $CCJ

Kingsview Wealth Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 6,497 shares of the basic materials company’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCJ. Sterling Capital Management LLC acquired a new position in shares of Cameco in the 1st quarter valued at $30,000. Brown Lisle Cummings Inc. lifted its position in Cameco by 3,200.0% in the first quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the fourth quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its stake in Cameco by 30,700.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 307 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of Cameco by 928.6% during the third quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Cameco Stock Up 0.1%

Shares of NYSE:CCJ opened at $100.07 on Monday. The company has a market cap of $43.58 billion, a price-to-earnings ratio of 169.61, a PEG ratio of 1.71 and a beta of 1.05. The firm’s 50-day simple moving average is $96.00 and its 200-day simple moving average is $106.98. 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 fifty-two week low of $73.20 and a fifty-two week high of $135.24.

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 analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million for the quarter, compared to analysts’ expectations of $579.60 million. Cameco had a return on equity of 7.59% and a net margin of 10.20%.The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.71 earnings per share. As a group, equities research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCJ shares. Barclays cut their target price on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Scotiabank restated an “outperform” rating and set a $175.00 price target on shares of Cameco in a research note on Wednesday, May 6th. Bank of America dropped their price target on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Cameco from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Royal Bank Of Canada increased their price objective on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.68.

Cameco 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.