Empowered Funds LLC Invests $9.81 Million in Cameco Corporation $CCJ

Empowered Funds LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) during the second quarter, according to its most recent filing with the SEC. The firm bought 96,322 shares of the basic materials company’s stock, valued at approximately $9,811,000.

Several other hedge funds have also bought and sold shares of CCJ. Mcguire Capital Advisors Inc. bought a new stake in shares of Cameco during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Cameco by 30,700.0% in 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 last quarter. Sterling Capital Management LLC bought a new position in Cameco in the 1st quarter valued at about $30,000. Sunbelt Securities Inc. lifted its position in Cameco by 928.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 360 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Finally, Brown Lisle Cummings Inc. boosted its stake in Cameco by 3,200.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 297 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CCJ shares. Bank of America decreased their price objective on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Citigroup reaffirmed a “positive” rating on shares of Cameco in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on Cameco from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Weiss Ratings lowered Cameco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Cameco presently has a consensus rating of “Moderate Buy” and an average target price of $145.68.

Cameco Stock Down 5.9%

Shares of NYSE:CCJ opened at $100.07 on Friday. Cameco Corporation has a 1 year low of $73.20 and a 1 year high of $135.24. The company has a market capitalization of $43.58 billion, a PE ratio of 169.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The business has a fifty day moving average price of $96.00 and a two-hundred day moving average price of $107.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.06 and a quick ratio of 2.10.

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