Moss Adams Wealth Advisors LLC Purchases New Position in Cameco Co. (NYSE:CCJ)

Moss Adams Wealth Advisors LLC purchased a new stake in Cameco Co. (NYSE:CCJ - Free Report) TSE: CCO in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,237 shares of the basic materials company's stock, valued at approximately $441,000.

Several other institutional investors have also made changes to their positions in the stock. Sunpointe LLC raised its stake in Cameco by 8.3% in the third quarter. Sunpointe LLC now owns 15,043 shares of the basic materials company's stock valued at $718,000 after purchasing an additional 1,150 shares in the last quarter. Jamison Private Wealth Management Inc. raised its position in shares of Cameco by 33.3% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 6,718 shares of the basic materials company's stock valued at $321,000 after buying an additional 1,678 shares in the last quarter. EdgeRock Capital LLC lifted its holdings in shares of Cameco by 1.7% during the 3rd quarter. EdgeRock Capital LLC now owns 13,689 shares of the basic materials company's stock worth $654,000 after acquiring an additional 224 shares during the period. Foster Victor Wealth Advisors LLC boosted its position in shares of Cameco by 48.6% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 166,795 shares of the basic materials company's stock worth $8,436,000 after acquiring an additional 54,551 shares in the last quarter. Finally, Keystone Wealth Services LLC increased its stake in Cameco by 10.4% in the third quarter. Keystone Wealth Services LLC now owns 5,329 shares of the basic materials company's stock valued at $255,000 after acquiring an additional 500 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCJ has been the subject of several recent analyst reports. Janney Montgomery Scott upgraded Cameco to a "strong-buy" rating in a research note on Friday, October 4th. Glj Research restated a "buy" rating and set a $63.73 price objective on shares of Cameco in a research report on Wednesday, August 14th. Cantor Fitzgerald raised Cameco from a "neutral" rating to an "overweight" rating in a research note on Wednesday, July 31st. National Bank Financial upgraded shares of Cameco to a "strong-buy" rating in a research note on Tuesday, September 3rd. Finally, Scotiabank dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $66.56.

Cameco Trading Up 2.4 %

Shares of Cameco stock traded up $1.35 on Friday, hitting $58.02. 6,041,424 shares of the company's stock traded hands, compared to its average volume of 4,412,492. The company has a fifty day moving average of $44.42 and a two-hundred day moving average of $47.66. Cameco Co. has a one year low of $35.43 and a one year high of $58.65. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 148.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ - Get Free Report) 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 analysts' consensus estimates of $0.28 by ($0.14). The business 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%. Cameco's quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) earnings per share. As a group, sell-side analysts expect that Cameco Co. will post 0.83 earnings per share for the current year.

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.