Legacy Capital Group California Inc. Buys 2,342 Shares of Cameco Co. (NYSE:CCJ)

Legacy Capital Group California Inc. lifted its stake in shares of Cameco Co. (NYSE:CCJ) (TSE:CCO) by 20.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,005 shares of the basic materials company’s stock after purchasing an additional 2,342 shares during the period. Legacy Capital Group California Inc.’s holdings in Cameco were worth $669,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCJ. Silvia Mccoll Wealth Management LLC raised its position in shares of Cameco by 3.9% in the 3rd quarter. Silvia Mccoll Wealth Management LLC now owns 5,610 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 210 shares during the period. EdgeRock Capital LLC increased its position in shares of Cameco by 1.7% in the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company’s stock valued at $654,000 after buying an additional 224 shares in the last quarter. LRI Investments LLC raised its stake in Cameco by 39.0% during the 2nd quarter. LRI Investments LLC now owns 834 shares of the basic materials company’s stock worth $41,000 after buying an additional 234 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Cameco by 71.5% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 571 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Finally, S.A. Mason LLC grew its stake in Cameco by 8.1% in the second quarter. S.A. Mason LLC now owns 3,449 shares of the basic materials company’s stock valued at $170,000 after acquiring an additional 258 shares during the period. 70.21% of the stock is owned by institutional investors.

Cameco Stock Performance

Shares of NYSE CCJ opened at $53.87 on Friday. The stock has a market capitalization of $23.44 billion, a PE ratio of 138.13 and a beta of 0.90. Cameco Co. has a 52 week low of $35.43 and a 52 week high of $58.72. The stock has a 50 day moving average price of $45.69 and a 200 day moving average price of $47.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 3.22.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The firm had revenue of $598.00 million for the quarter, compared to the consensus estimate of $756.00 million. Cameco had a return on equity of 5.63% and a net margin of 9.72%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period last year, the company posted ($0.01) earnings per share. Analysts predict that Cameco Co. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Glj Research reiterated a “buy” rating and issued a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research report on Friday, October 4th. Scotiabank reduced their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Finally, National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Cameco has a consensus rating of “Buy” and an average price target of $66.56.

About Cameco

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.