Mountaineer Partners Management LLC Makes New Investment in Cameco Corporation $CCJ

Mountaineer Partners Management LLC bought a new position in Cameco Corporation (NYSE:CCJ) (TSE:CCO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,424 shares of the basic materials company’s stock, valued at approximately $3,881,000. Cameco makes up approximately 2.2% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the business. Clearstead Advisors LLC increased its holdings in Cameco by 0.8% in the fourth quarter. Clearstead Advisors LLC now owns 10,158 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 85 shares in the last quarter. Legacy Bridge LLC increased its holdings in Cameco by 0.9% in the fourth quarter. Legacy Bridge LLC now owns 11,508 shares of the basic materials company’s stock worth $1,053,000 after purchasing an additional 100 shares in the last quarter. S.A. Mason LLC increased its holdings in Cameco by 4.8% in the fourth quarter. S.A. Mason LLC now owns 2,436 shares of the basic materials company’s stock worth $223,000 after purchasing an additional 111 shares in the last quarter. GAMMA Investing LLC increased its holdings in Cameco by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 676 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 112 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Cameco by 3.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 3,435 shares of the basic materials company’s stock worth $314,000 after purchasing an additional 114 shares in the last quarter. 70.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCJ. Scotiabank reiterated an “outperform” rating and issued a $175.00 target price on shares of Cameco in a report on Wednesday, May 6th. Weiss Ratings downgraded Cameco from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Canadian Imperial Bank of Commerce lifted their target price on Cameco to $202.00 in a report on Monday, March 9th. Zacks Research downgraded Cameco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 18th. Finally, Barclays assumed coverage on Cameco in a report on Thursday, May 21st. They set an “equal weight” rating and a $108.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.62.

Cameco Trading Down 0.0%

NYSE CCJ opened at $100.94 on Monday. The company has a market cap of $43.96 billion, a price-to-earnings ratio of 93.47, a P/E/G ratio of 1.71 and a beta of 0.99. Cameco Corporation has a 52 week low of $64.84 and a 52 week high of $135.24. The business has a 50 day moving average price of $113.12 and a 200-day moving average price of $109.27. 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 (NYSE:CCJ) (TSE:CCO) last released its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $607.49 million during the quarter, compared to the consensus estimate of $598.63 million. Cameco had a return on equity of 11.05% and a net margin of 18.38%.The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, equities analysts expect that Cameco Corporation will post 1.31 earnings per share 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.