SIR Capital Management L.P. Makes New $2.16 Million Investment in Cameco Corporation $CCJ

SIR Capital Management L.P. acquired a new stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the second quarter, HoldingsChannel reports. The firm acquired 21,200 shares of the basic materials company’s stock, valued at approximately $2,159,000.

Several other large investors also recently added to or reduced their stakes in CCJ. Bison Wealth LLC boosted its holdings in shares of Cameco by 16.1% in the fourth quarter. Bison Wealth LLC now owns 21,448 shares of the basic materials company’s stock valued at $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC grew its position in shares of Cameco by 16.6% in the 1st quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock worth $393,000 after buying an additional 1,361 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Cameco by 48.7% in the first quarter. Integrated Wealth Concepts LLC now owns 8,485 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 2,780 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cameco by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 604,841 shares of the basic materials company’s stock valued at $24,895,000 after buying an additional 64,512 shares in the last quarter. Finally, NewGen Equity Long Short Fund acquired a new position in shares of Cameco during the second quarter valued at about $14,252,000. 70.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCJ has been the topic of several research reports. Truist Financial upped their target price on Cameco from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays lowered their price target on shares of Cameco from $104.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 4th. Sanford C. Bernstein reissued an “outperform” rating and issued a $135.00 price objective on shares of Cameco in a report on Monday, June 15th. Wall Street Zen lowered shares of Cameco from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Bank of America dropped their price target on Cameco from $143.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Fourteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cameco has an average rating of “Moderate Buy” and a consensus target price of $145.68.

Cameco Trading Down 0.2%

CCJ opened at $102.26 on Tuesday. The stock has a market capitalization of $44.54 billion, a PE ratio of 173.32, a P/E/G ratio of 1.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.10 and a current ratio of 3.06. Cameco Corporation has a one year low of $73.20 and a one year high of $135.24. The business’s 50 day moving average price is $96.12 and its 200 day moving average price is $107.24.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its earnings results on Friday, July 31st. The basic materials company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Cameco had a net margin of 10.20% and a return on equity of 7.59%. The company had revenue of $573.06 million during the quarter, compared to analyst estimates of $579.60 million. The company’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 EPS. As a group, equities research analysts expect that Cameco Corporation will post 1.27 EPS for the current year.

Cameco Company 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.