Faithward Advisors LLC Purchases New Position in Cameco Corporation $CCJ

Faithward Advisors LLC purchased a new stake in shares of Cameco Corporation (NYSE:CCJ – Free Report) (TSE:CCO) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 51,942 shares of the basic materials company’s stock, valued at approximately $4,356,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abbington Investment Group bought a new stake in shares of Cameco in the 3rd quarter worth $6,506,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cameco by 79.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 249,992 shares of the basic materials company’s stock valued at $20,964,000 after purchasing an additional 110,629 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Cameco by 165.1% during the second quarter. Hillsdale Investment Management Inc. now owns 169,448 shares of the basic materials company’s stock valued at $12,593,000 after purchasing an additional 105,523 shares in the last quarter. NWF Advisory Services Inc. purchased a new position in Cameco during the third quarter worth about $1,996,000. Finally, Thames Capital Management LLC boosted its holdings in Cameco by 66.8% during the third quarter. Thames Capital Management LLC now owns 107,062 shares of the basic materials company’s stock worth $8,978,000 after purchasing an additional 42,879 shares during the last quarter. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

NYSE CCJ opened at $111.46 on Wednesday. The company has a market capitalization of $48.55 billion, a PE ratio of 114.91 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.68 and a current ratio of 2.47. Cameco Corporation has a 52-week low of $35.00 and a 52-week high of $135.24. The company has a 50-day simple moving average of $116.94 and a 200 day simple moving average of $98.40.

Cameco (NYSE:CCJ – Get Free Report) (TSE:CCO) last released its earnings results on Friday, February 13th. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Cameco had a net margin of 17.00% and a return on equity of 9.35%. The firm had revenue of $874.57 million for the quarter, compared to analysts’ expectations of $782.13 million. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, research analysts predict that Cameco Corporation will post 1.27 EPS for the current year.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $131.00 price objective on shares of Cameco in a research note on Wednesday, February 4th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce upped their target price on Cameco to $202.00 in a report on Monday, March 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Cameco in a research report on Wednesday, January 14th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $147.00 price target on shares of Cameco in a report on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cameco presently has an average rating of “Moderate Buy” and a consensus price target of $150.40.

Read Our Latest Analysis on Cameco

About Cameco

(Free Report)

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.

Further Reading

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