Ritholtz Wealth Management Increases Stake in Cameco Corporation $CCJ

Ritholtz Wealth Management raised its holdings in Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 73.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,491 shares of the basic materials company’s stock after acquiring an additional 4,869 shares during the period. Ritholtz Wealth Management’s holdings in Cameco were worth $1,248,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCJ. Nisa Investment Advisors LLC purchased a new stake in shares of Cameco in the fourth quarter worth about $25,000. Founders Capital Management purchased a new position in Cameco during the fourth quarter valued at approximately $27,000. Strategic Advocates LLC bought a new stake in Cameco during the 3rd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd increased its holdings in 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 acquiring an additional 307 shares during the period. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Cameco in the 4th quarter worth approximately $28,000. 70.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CCJ shares. Sanford C. Bernstein reiterated an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a research report on Monday, June 15th. Scotiabank reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Canadian Imperial Bank of Commerce increased their target price on Cameco to $202.00 in a report on Monday, March 9th. TD Securities lowered shares of Cameco from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Barclays began coverage on Cameco in a research report on Thursday, May 21st. They issued an “equal weight” rating and a $108.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.42.

Cameco Price Performance

Shares of NYSE CCJ opened at $104.54 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.09 and a current ratio of 3.08. The company has a 50 day simple moving average of $111.50 and a two-hundred day simple moving average of $110.46. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The company has a market capitalization of $45.53 billion, a price-to-earnings ratio of 96.80, a P/E/G ratio of 1.91 and a beta of 0.99.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.05. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company had revenue of $607.49 million for the quarter, compared to the consensus estimate of $598.63 million. During the same quarter in the prior year, the business posted $0.16 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that Cameco Corporation will post 1.21 EPS for the current fiscal year.

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.