Commerce Bank Buys New Stake in Cameco Corporation $CCJ

Commerce Bank bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the 2nd quarter, Holdings Channel reports. The fund bought 7,032 shares of the basic materials company’s stock, valued at approximately $716,000.

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

Cameco Stock Performance

Shares of NYSE CCJ opened at $107.51 on Thursday. The firm has a market capitalization of $46.82 billion, a price-to-earnings ratio of 182.22, a PEG ratio of 1.83 and a beta of 1.05. Cameco Corporation has a one year low of $73.20 and a one year high of $135.24. The business has a fifty day simple moving average of $96.14 and a 200 day simple moving average of $107.17. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.14.

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

Analysts Set New Price Targets

CCJ has been the topic of several research analyst reports. Citigroup restated a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Truist Financial upped their target price on shares of Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price target on shares of Cameco in a report on Monday, June 15th. Barclays decreased their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.