19,463 Shares in Cameco Corporation $CCJ Acquired by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC purchased a new stake in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,463 shares of the basic materials company’s stock, valued at approximately $1,983,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC boosted its holdings in shares of Cameco by 16.1% during the 4th quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock worth $1,102,000 after buying an additional 2,975 shares during the period. AQR Capital Management LLC raised its holdings in Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 1,361 shares during the period. Integrated Wealth Concepts LLC lifted its position in Cameco by 48.7% during the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cameco by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock worth $24,895,000 after acquiring an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund bought a new stake in shares of Cameco during the second quarter worth approximately $14,252,000. 70.21% of the stock is owned by institutional investors.

Cameco Trading Up 7.3%

Shares of CCJ stock opened at $102.55 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14. The stock has a market cap of $44.66 billion, a P/E ratio of 173.81, a price-to-earnings-growth ratio of 1.63 and a beta of 1.05. The stock has a 50 day simple moving average of $96.21 and a 200 day simple moving average of $107.49. Cameco Corporation has a 1 year low of $72.75 and a 1 year high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). The company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.59%. Cameco’s revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, research analysts predict that Cameco Corporation will post 1.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CCJ shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $135.00 target price on shares of Cameco in a research note on Monday, June 15th. Barclays decreased their price objective on Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Bank of America lowered their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their target price on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Finally, Truist Financial boosted their target price on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.68.

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.