Riverwater Partners LLC Takes $350,000 Position in Cameco Co. (NYSE:CCJ)

Riverwater Partners LLC acquired a new position in Cameco Co. (NYSE:CCJ) (TSE:CCO) during the third quarter, Holdings Channel reports. The firm acquired 7,078 shares of the basic materials company’s stock, valued at approximately $350,000.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Cameco by 15.5% in the 1st quarter. Tidal Investments LLC now owns 20,036 shares of the basic materials company’s stock valued at $868,000 after acquiring an additional 2,683 shares in the last quarter. LRI Investments LLC purchased a new stake in Cameco in the first quarter valued at approximately $30,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cameco during the 1st quarter worth $295,000. Moss Adams Wealth Advisors LLC bought a new stake in Cameco during the third quarter worth about $441,000. Finally, Sei Investments Co. lifted its position in Cameco by 285.3% in the 2nd quarter. Sei Investments Co. now owns 71,774 shares of the basic materials company’s stock worth $3,530,000 after buying an additional 53,144 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

CCJ has been the subject of several analyst reports. Cantor Fitzgerald upgraded Cameco from a “neutral” rating to an “overweight” rating in a report on Wednesday, July 31st. Glj Research reiterated a “buy” rating and set a $63.73 price target on shares of Cameco in a research report on Wednesday, August 14th. National Bank Financial upgraded Cameco to a “strong-buy” rating in a report on Tuesday, September 3rd. Janney Montgomery Scott raised shares of Cameco to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Bank of America lifted their price target on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cameco presently has a consensus rating of “Buy” and an average price target of $66.56.

Cameco Stock Performance

NYSE:CCJ opened at $54.08 on Thursday. Cameco Co. has a 1 year low of $35.43 and a 1 year high of $58.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48. The stock’s 50 day simple moving average is $45.43 and its two-hundred day simple moving average is $47.81. The company has a market cap of $23.53 billion, a price-to-earnings ratio of 138.67 and a beta of 0.90.

Cameco (NYSE:CCJ) (TSE:CCO) last announced its quarterly earnings data 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 during 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 firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. As a group, equities analysts anticipate that Cameco Co. will post 0.83 earnings per share for the current fiscal year.

Cameco 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.