SWP Investment Management LLC Buys 7,245 Shares of Cameco Corporation $CCJ

SWP Investment Management LLC increased its stake in shares of Cameco Corporation (NYSE:CCJ) (TSE:CCO) by 56.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the basic materials company’s stock after buying an additional 7,245 shares during the quarter. SWP Investment Management LLC’s holdings in Cameco were worth $2,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CCJ. Bison Wealth LLC increased its position 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 worth $1,102,000 after purchasing an additional 2,975 shares during the period. AQR Capital Management LLC raised its stake in Cameco by 16.6% in the first quarter. AQR Capital Management LLC now owns 9,547 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 1,361 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Cameco by 48.7% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cameco by 11.9% during the first 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 worth $24,895,000 after purchasing an additional 64,512 shares during the period. Finally, NewGen Equity Long Short Fund acquired a new stake in Cameco during the second quarter worth about $14,252,000. Institutional investors own 70.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CCJ. Bank of America decreased their target price on shares of Cameco from $143.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Barclays cut their price target on shares of Cameco from $108.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday, July 15th. Weiss Ratings lowered shares of Cameco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Citigroup reissued a “positive” rating on shares of Cameco in a research note on Wednesday, July 15th. Finally, Scotiabank restated an “outperform” rating and set a $175.00 price objective on shares of Cameco in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.18.

Cameco Price Performance

Shares of CCJ stock opened at $89.85 on Tuesday. The business has a fifty day simple moving average of $99.15 and a 200 day simple moving average of $109.78. The company has a market cap of $39.13 billion, a P/E ratio of 152.29, a P/E/G ratio of 1.36 and a beta of 1.05. The company has a quick ratio of 2.09, a current ratio of 3.08 and a debt-to-equity ratio of 0.14. Cameco Corporation has a twelve month low of $68.96 and a twelve month high of $135.24.

Cameco (NYSE:CCJ) (TSE:CCO) last released its earnings results on Friday, July 31st. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). The business had revenue of $573.06 million during the quarter, compared to the consensus estimate of $579.60 million. Cameco had a net margin of 10.20% and a return on equity of 7.64%. The business’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, sell-side analysts forecast that Cameco Corporation will post 1.34 EPS for the current fiscal year.

Cameco 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.