Prestige Wealth Management Group LLC Acquires New Position in Cameco Co. (NYSE:CCJ)

Prestige Wealth Management Group LLC bought a new position in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) during the 4th quarter, Holdings Channel reports. The firm bought 6,791 shares of the basic materials company’s stock, valued at approximately $349,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dantai Capital Ltd grew its holdings in shares of Cameco by 44.2% in the 3rd quarter. Dantai Capital Ltd now owns 57,260 shares of the basic materials company’s stock worth $2,735,000 after acquiring an additional 17,560 shares during the period. Roberts Wealth Advisors LLC acquired a new position in shares of Cameco during the 4th quarter worth $895,000. Whalen Wealth Management Inc. purchased a new stake in shares of Cameco in the 4th quarter worth about $445,000. Sprott Inc. grew its stake in Cameco by 44.5% in the 4th quarter. Sprott Inc. now owns 111,896 shares of the basic materials company’s stock valued at $5,750,000 after acquiring an additional 34,483 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in Cameco during the 3rd quarter valued at about $5,305,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on CCJ shares. Stifel Nicolaus assumed coverage on shares of Cameco in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Glj Research increased their target price on Cameco from $62.76 to $75.68 and gave the company a “buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $90.00 price target on shares of Cameco in a report on Tuesday, March 4th. Stifel Canada raised Cameco to a “strong-buy” rating in a research note on Wednesday, March 12th. Finally, StockNews.com raised shares of Cameco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $73.64.

Cameco Stock Performance

NYSE CCJ opened at $45.73 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $19.91 billion, a PE ratio of 163.34 and a beta of 1.04. The business’s 50-day moving average price is $46.97 and its 200 day moving average price is $50.23. Cameco Co. has a twelve month low of $35.43 and a twelve month high of $62.55.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Cameco had a net margin of 5.39% and a return on equity of 4.34%. The business had revenue of $845.54 million for the quarter, compared to analysts’ expectations of $1.09 billion. On average, research analysts predict that Cameco Co. will post 1.27 earnings per share for the current year.

Cameco Company Profile

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.