Main Street Research LLC Raises Stock Holdings in Cameco Corporation $CCJ

Main Street Research LLC raised its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 1.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 389,077 shares of the basic materials company’s stock after acquiring an additional 7,209 shares during the period. Cameco makes up approximately 2.5% of Main Street Research LLC’s holdings, making the stock its 20th biggest position. Main Street Research LLC’s holdings in Cameco were worth $42,258,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Cameco in the fourth quarter worth approximately $25,000. Founders Capital Management purchased a new stake in Cameco during the 4th quarter valued at $27,000. Strategic Advocates LLC purchased a new stake in Cameco during the 3rd quarter valued at $28,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cameco by 30,700.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 308 shares of the basic materials company’s stock valued at $28,000 after buying an additional 307 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Cameco during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CCJ. Barclays initiated coverage on Cameco in a report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective for the company. Royal Bank Of Canada increased their target price on Cameco from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, June 29th. TD Securities cut Cameco from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. William Blair began coverage on Cameco in a research note on Monday, April 20th. They set an “outperform” rating for the company. Finally, Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.11.

Cameco Stock Performance

Shares of NYSE CCJ opened at $95.78 on Friday. The stock has a market cap of $41.72 billion, a PE ratio of 88.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. Cameco Corporation has a 1 year low of $68.96 and a 1 year high of $135.24. The firm has a fifty day moving average price of $107.21 and a 200-day moving average price of $110.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.08 and a quick ratio of 2.09.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $607.49 million for the quarter, compared to analysts’ expectations of $598.63 million. Cameco had a net margin of 18.38% and a return on equity of 11.05%. Cameco’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. Equities analysts anticipate that Cameco Corporation will post 1.2 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.