Icon Advisers Inc. Co. Grows Stock Holdings in Cameco Corporation $CCJ

Icon Advisers Inc. Co. grew its position in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 22.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,000 shares of the basic materials company’s stock after acquiring an additional 9,000 shares during the period. Cameco comprises 1.3% of Icon Advisers Inc. Co.’s portfolio, making the stock its 20th largest position. Icon Advisers Inc. Co.’s holdings in Cameco were worth $5,430,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Clearstead Advisors LLC grew its stake in shares of Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares during the last quarter. Legacy Bridge LLC raised its position in Cameco by 0.9% during the 4th quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock valued at $1,053,000 after purchasing an additional 100 shares during the last quarter. HB Wealth Management LLC raised its position in Cameco by 3.1% during the 1st quarter. HB Wealth Management LLC now owns 3,560 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 107 shares during the last quarter. Groupama Asset Managment lifted its holdings in Cameco by 5.9% in the 4th quarter. Groupama Asset Managment now owns 1,928 shares of the basic materials company’s stock worth $176,000 after buying an additional 108 shares during the period. Finally, S.A. Mason LLC lifted its holdings in Cameco by 4.8% in the 4th quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after buying an additional 111 shares during the period. 70.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCJ. Barclays cut their price objective on Cameco from $108.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. TD Securities lowered Cameco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Citigroup reiterated a “positive” rating on shares of Cameco in a report on Wednesday, July 15th. Weiss Ratings downgraded shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Finally, Truist Financial started coverage on shares of Cameco in a research report on Monday, July 13th. They set a “buy” rating and a $129.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Stock Performance

Cameco stock opened at $90.40 on Thursday. Cameco Corporation has a fifty-two week low of $68.96 and a fifty-two week high of $135.24. The stock’s 50 day simple moving average is $102.06 and its two-hundred day simple moving average is $110.73. 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 stock has a market cap of $39.37 billion, a price-to-earnings ratio of 83.70, a PEG ratio of 1.46 and a beta of 1.02.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $598.63 million. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts expect that Cameco Corporation will post 1.29 earnings per share 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.